Michael Saylor, the CEO of Microstrategy, gave an interview to the PBD Podcast and assured that the only really scarce object that humanity knows is Bitcoin. “I can create more real estate in New York City. I can create more cars. I can create more luxury watches. I can create more gold. I can create more links, I can create any merchandise; They are commodities by definition. With enough money and time, I can create infinite of any of them”, explained the CEO of the company that accumulate more than 125,000 bitcoin in reserves (valued at nearly $5 billion).
“If the price goes up by a factor of a thousand or a million, you are absolutely capped. That is not the case for gold, soybeans, silver, stocks, bonds, real estate, single family homes, ships, planes, trains, nothing else. Everything else could be manufactured. And, of course, if the price goes up, the incentive to make more will increase.which is why, you know, buying a home isn’t necessarily going to be a great store of value in an inflationary economy because you’re going to have incentives for someone else to dilute the value of your homeSaylor went on to explain.
The focus of Saylor’s argument is that Bitcoin’s default issuance, at 21 million units, is set in stone by design, something that makes it fundamentally different from other types of assets. “I can create any merchandise. They are commodities by definition. With enough money and time, I can create infinities of any of them. Bitcoin is a scarcity. Well, name another scarcity in the world, truth? And technically, it’s not clear that there’s another shortage, right? A shortage is something that you are absolutely limited from.”, the businessman concluded his argument.
That is why Saylor became something of an evangelist for Bitcoin, providing advisory talks for companies that also want to start investing in Bitcoin officially. Indeed, the investment that the company made in cryptographic assets resulted in over a billion profits not yet realized.
Saylor’s company has been in the digital business for several years. It was founded in 1989 and is currently engaged in business intelligence, offering online analytical processing software.
It may interest you:
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.