Michael Saylor, executive chairman of MicroStrategy, reiterated his unwavering belief in Bitcoin despite its notorious volatility, likening its fluctuations to natural phenomena that possess enormous, usable energy.
Saylor’s latest comments came during a Fox News interview, in which the host asked him to explain how MicroStrategy “crushed everything” after adopting Bitcoin.
The founder of MicroStrategy said the company’s success is directly determined by Bitcoin’s enormous potential to solve the world’s problems. He added that the company is simply “delivering the most powerful idea in the world today” to further its remarkable success.
Troubleshooting
Despite criticism and skepticism from various quarters, he remains steadfast in his belief that Bitcoin is the ultimate solution to many economic problems.
According to Saylor:
“[Bitcoin] creates tens of billions of dollars of credit and liquidity for everyone around the world at any time, attracting enormous amounts of capital.”
He emphasized the dynamic nature of Bitcoin and compared its volatility to high-energy natural phenomena such as rivers and storms, which contain enormous energy that can be ‘used’.
Saylor also pushed back against recent claims that Bitcoin has not met its “store of value” use case. He said:
“Those who understand Bitcoin buy Bitcoin. Those who don’t criticize Bitcoin.”
Saylor argued that Bitcoin provides an inflation hedge for individuals, a high-performing investment for investors, a competitive advantage for companies and an economic revitalization tool for countries.
He also emphasized that Bitcoin’s ability to provide digital capital can significantly strengthen national economies and currencies. According to Saylor:
“Bitcoin allows individuals to avoid inflation. Investors can beat the market. Companies can outgrow the competition. And countries can revive their economies and boost their currencies by leveraging digital capital.”
The Bitcoin Act
Saylor also supported Senator Cynthia Lummis’ legislation to create a strategic Bitcoin reserve for the US. He said the Bitcoin Act bill represents a “forward-thinking” approach to “leveraging digital assets.”
Saylor believes that such a reserve could provide significant economic benefits, strengthening the national economy and increasing the stability of the U.S. dollar. He emphasized that Bitcoin is not just a financial asset, but a crucial part of the digital transformation sweeping the global economy.
He also expressed optimism about former President Donald Trump’s support for Bitcoin, which has given a significant boost to the sector’s legitimacy. He noted that his earlier fears have now been somewhat allayed.
Saylor said:
“One of the things I’ve always feared is that at some point DC would push back, like all these countries that rely on fiat money.”
Saylor pointed out that Bitcoin’s integration into the cyber world is fueling the evolution of DeFi and blockchain technology, creating new economic opportunities and fostering innovation.
He emphasized that this digital asset is a cornerstone of the cyber economy, providing a secure and efficient means of transferring value and enabling financial sovereignty.