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Saylor Argues That Bitcoin Would be Better Off as a Form of Digital Property

Rethinking Bitcoin: beyond currency to digital property

Michael Saylor, the chairman of MicroStrategy, stated during a March 11 interview with CNBC:

"Bitcoin investors should treat Bitcoin less like a currency and more like a 'billion dollar building in cyberspace' — to be held for a hundred years," 

Highlighting a "fundamental misunderstanding" among those who perceive Bitcoin primarily as a currency, Saylor champions the notion of Bitcoin as digital property. He articulates this vision by comparing Bitcoin to a valuable, tangible asset that, like prime real estate, represents a long-term investment rather than a medium for daily transactions.

Saylor explained: 

"It’s going to be controversial if people think of it as a currency, so I would encourage people to think of it as digital currency, a billion-dollar property in cyberspace,” 

This perspective aims to shift the discourse around Bitcoin from its use as a transactional currency to its value as a durable asset, capable of preserving capital across centuries.

Global acceptance and the value proposition

Michael Saylor elaborates on the broader implications of recognizing Bitcoin as digital property, suggesting that this reclassification could significantly influence its global acceptance. 

Saylor asserts, highlighting a pivotal shift towards viewing Bitcoin as a store of value:

"Many of the 'controversial issues' surrounding cryptocurrencies have revolved around its use as a medium of exchange," 

He argues that the United States, Europe, and China are 

"much more likely to embrace it if it were seen as digital property." 

This perspective is rooted in the belief that the role of a medium of exchange is limited in scope compared to the vast potential of a store of value, which Saylor quantifies as a "100 trillion dollars" opportunity compared to a mere "1 trillion dollars" for mediums of exchange.

His advocacy for Bitcoin as a paramount digital asset is intended to catalyze a shift in perception, encouraging investors and regulators to see beyond its currency functionality and recognize its unparalleled capacity as a long-term investment.

Bitcoin vs. traditional assets: a new era of investment

Michael Saylor positions Bitcoin as the superior choice over traditional assets like gold, equity, or real estate. Emphasizing its unique attributes, Saylor remarked: 

"Bitcoin is Digital Property. It is superior to other investments such as Gold, Equity, or Real Estate because it is digital, available, global, ethical, & useful to millions of companies and billions of people." 

His assertion that Bitcoin "is going to eat gold" is predicated on its efficiency, global recognition, and trustworthiness as an investment asset. Unlike gold, Bitcoin lacks physical constraints and offers an ethical alternative in the commodities space, devoid of issuer or corporate control complexities. 

Despite past price volatility, Saylor's confidence in Bitcoin remains unshaken, affirming: 

"It’s the greatest of the assets in my opinion, there’s no second best." 

With Bitcoin's price currently standing at $72,320, reflecting a significant upsurge, Saylor's vision for its future as a cornerstone of investment strategy appears increasingly plausible.