The CEO of MicroStrategy called bitcoin one of the most scarce assets in the world, while other products can be created indefinitely with enough time and money.
In an interview with the PBD Podcast, MicroStrategy CEO Michael Saylor shared his thoughts on Bitcoin. According to him, the “magic” of the first cryptocurrency lies in the scarcity, since the supply of bitcoin is limited to 21 million coins. Everything else can be created in any volume, Sailor said.
The head of MicroStrategy cited real estate as an example. When housing prices rise, developers are interested in increasing their supply. Therefore, buying a house does not guarantee that people will keep their funds in an inflationary economy. High demand for real estate generates an increase in supply, while reducing the value of purchased real estate.
“You can create more real estate in New York, more cars, luxury watches, gold, stocks and bonds. With enough money and time, I can create an unlimited number of any product,” says Saylor.
For this reason, many people call bitcoin “digital gold”, considering it an effective tool for hedging inflation risks. A similar opinion is shared by the co-founder of the hedge fund SkyBridge Capital Anthony Scaramucci, who is convinced that every large investor should have bitcoin in his portfolio.
Earlier, Michael Saylor said that MicroStrategy’s strategy is to buy bitcoins for long-term storage, and the company intends to hold them for 100 years.
Source: Bits
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