Michael Saylor, CEO of MicroStrategy, has been an outspoken supporter of Bitcoin (BTC) since its inception. At the Australia Crypto Convention, he reaffirmed his position in favor of BTC. He further highlights the difficulties inherent in transferring the value of gold, equities, and real estate.
Digital Money Has Fewer Risks Than Traditional Investments
Saylor says people can maintain digital currency by mining equipment and energy. He clarified this during his presentation on Bitcoin’s proof-of-work (PoW) consensus technique. He also pointed out that the BTC has power with a total value of $20 billion.
He stated that conventional assets such as land and gold (in massive amounts) are immobile. He concludes that such items are challenging to move across international boundaries. He said that Londoners would be unwilling to rent from African property owners.
However, if one possesses a billion dollars in Bitcoin, one may lend or rent it to everyone around the globe.
Over the long term, Saylor noted the enormous maintenance expenditures and taxes with owning and inheriting physical properties. Moreover, Saylor emphasized that Bitcoin is not subject to inheritance taxes. He said Bitcoin is akin to a portable purchasable piece of property in fractional amounts.
One may leave a legacy for future generations. It’s also possible that one’s descendants will be the 250th owners of the asset.
Bitcoin Provides More Security Than Traditional Forms of Assets
Saylor says that “Unless it’s Bitcoin,” only royalty, such as King Charles III, can freely pass on wealth. Royalties can pass on wealth without worrying about the possibility of the government taking it in the form of taxes. He again emphasized that the Bitcoin network is “the most secure network in the world.”
He makes this claim because no compromise has hit the network for over a decade.
Saylor wrapped off his discussion by focusing on the recent advancements in the layer-2 and layer-3 applications fields. He says that this recent development, in addition to the periodic updates, makes the network faster and more secure.
Mike McGlone (a Bloomberg analyst) says Bitcoin is a “wild card.” He stated that BTC has the potential to outperform markets even if traditional forms of finance enter a period of recession.
McGlone disseminated the information using a variety of social media platforms. These social media platforms include LinkedIn and Twitter, amongst others. Bitcoin, he went on to say, is a wild card that is ready to shine when stocks bottom out. He added that BTC is gradually transitioning to be more like gold and bonds.
Cointelegraph published that Ether (ETH) “may have a better correlation with stocks,” and BTC, on the other hand, would move in a manner comparable to that of government bonds and gold.