The CEO of MicroStrategy, Michael Saylor, proposes the view that Bitcoin (BTC) is less like the digital currency and more like a digital property. On 15th July, while appearing in a podcast interview conducted by the Coin Stories in its edition of 15th July, he responded in a negation of the question (asked by the anchor Natalie Brunell) about his views on Bitcoin causing a potential danger to the United States’ dollar saying that BTC is a digital property, so it poses a threat to the property. Property, he mentioned, includes things like real estate, gold, and so on. He further said that the government of the United States should not be endangered by gold, companies, buildings, or real estate.
The statements of Michael Saylor were re-voiced in a podcast by Scott Melker in which Scott expressed that he does not consider Bitcoin to ever acquire the status of a currency in the United States. He further elaborated that it is stealing the status of other property types. He added that the community is contemplating whether to buy Bitcoin rather than investing in traditional properties like buying gold, beginning a business, stocks, or real estate.
Bitcoin has been regularly incorporated by MicroStrategy later than August 2020, and currently, the firm owns over $3.3B worth of BTC. Saylor proposed that MicroStrategy does not have any intention to trade Bitcoin and is ready for confronting the volatility to occur in the following days, even if it collapses in a short period. He focused on the point that it should be held during the FUDs and the times of downturn in the market. As he pointed, Steve Balmer (the CEO of Microsoft) did not trade his holdings during a crash in the past.
Saylor also quoted a statement of Warrant Buffet that one should not even speculate about holding an asset as long as 10 minutes if he does not have the patience to hold it for ten years. Furthermore, he explained that even the stock of Amazon was recovered from 80% collapses previously.
Moreover, he described that 1 iPhone 12 would be useless in only 100 years, which means that Apple’s product is not worth lasting 1000 years, and the Bitcoin’s product BTC is only a 1/21 millionth proportion of the money spread around the world. So, there is no requirement to change it.