Monday, December 4, 2023

Bitcoin, according to Michael Saylor, is the world’s reserve asset, but it’s not so good for buying a cup of coffee

While many have struggled with achieving a synthesis between digital currencies and fiat currencies, founder CEO of Microstrategy Micheal Saylor is not one of them. In a recent interview with Coindesk, this billionaire entrepreneur said that the difference between dollars and Bitcoins is very simple. While the dollar is the currency of the world, Bitcoin is the reserve asset of the world. He illustrates this with an example, saying that buying a cup of coffee with Bitcoin would make no sense. A dollar bill fits right for that purpose. However, Bitcoin is the global standard of hedge against inflation, according to him. He believes that Bitcoin is a better store of value than gold, and provides a better hedge against inflation.

Michael Saylor has been a long-time proponent of cryptocurrencies. He is also known for holding a huge part of his company’s share in Bitcoin. Saylor alone can disrupt the Bitcoin market value through the Bitcoins he and his company own. In the past, he has praised the merits of Bitcoin on multiple occasions.

Saylor also addressed cryptocurrency regulations – the talk of the hour. According to him, all confusions stem from the fact that regulators confuse currencies and assets. While both are stores of value, the primary function of currencies is to facilitate transactions. He believes that once investors and regulators solve this conundrum, formulating crypto regulations will become much easier.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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