Amid a global financial landscape marked by inflation concerns and monetary policy changes, Michael Saylor, the CEO of MicroStrategy, has referred to Bitcoin as “perfected engineered crypto gold,” highlighting its potential as a store of value and a hedge against inflation.
Saylor’s comments came during a podcast discussion on Tuesday where he delved into the nature of money and the challenges presented by traditional investment strategies in a time of economic uncertainty. The Bitcoin maximalists began by reflecting on the changing dynamics of money, the potential erosion of wealth, and the impact on his company’s employees.
Saylor then outlined two key problems associated with holding stocks as a store of value. Firstly, the a lack of scarcity in stocks as additional shares can be issued, diluting the value. Secondly, he noted that stocks are subject to political and market dynamics that can affect their long-term viability.
Expanding on his view of Bitcoin, Saylor emphasized its scarcity and durability, comparing it favorably to traditional assets like gold. He highlighted its weightlessness, speed of transfer, and resistance to decomposition.
Saylor comments come after he expressed his concerns about the Federal Reserve and its actions earlier this year, underscoring his belief in the potential of Bitcoin as a financial asset.