With the spread of cryptocurrencies, Bitcoin has become more and more involved in our lives every day.
With Bitcoin entering our lives so much, Bitcoin defenders started to show themselves. In this article, we discussed how Michael Saylor’s love for Bitcoin, which is at the top of this list, has developed over the years.
What Has Michael Saylor Done For Bitcoin Over The Years?
Michael Saylor is the CEO of MicroStrategy and one of the biggest supporters of Bitcoin, which is described as the gold of cryptocurrencies. Saylor’s love and dedication to Bitcoin has inspired many other businessmen and investors. Now, let’s take a closer look at his passion and belief in Bitcoin.
Michael Saylor took a big step with his company MicroStrategy in 2020 to show his interest in Bitcoin. The company bought about 91,000 BTC, converting most of its assets to Bitcoin. This step had a great impact at that time. However, over the years, Bitcoin purchases by Saylor’s company MicroStrategy have almost acted as a reverse indicator. Every time Saylor’s company announced the purchase of BTC, there were decreases in Bitcoin.
Saylor does not hesitate to explain at every opportunity that he sees Bitcoin as a more reliable hedging tool compared to other asset classes. While he argues that traditional currencies are at risk of depreciation due to inflation and central bank interventions, he thinks that this will not happen in Bitcoin. Additionally, Saylor thinks that the economic uncertainties experienced around the world will increase the demand for the value of Bitcoin.
Focusing on the limited supply of Bitcoin, Saylor believes that the balance of falling supply and increasing demand will increase the value of Bitcoin over time. He also argues that Bitcoin is based on a strong mathematical foundation and is a safe and reliable store of value. Saylor sees Bitcoin as a long-term investment and believes it will unleash its full potential.
Saylor does not only describe Bitcoin as an investment tool, but also emphasizes the potential of Bitcoin to democratize the financial system. His belief that Bitcoin, a decentralized system, could create an opportunity for billions of people who do not have access to financial services has made him a figure in the cryptocurrency industry. Saylor believes that if Bitcoin gains wider acceptance as a currency, financial inclusion will increase and economic inequalities will decrease.
In conclusion, Michael Saylor’s love of Bitcoin is rooted in the potential he sees in this digital asset. He believes that Bitcoin has the potential to be a safe store of value, investment vehicle, and democratization of the financial system. Saylor put his belief in Bitcoin into action and transformed the assets of the MicroStrategy company into Bitcoin and encouraged other investors with this step. His love of Bitcoin made him an influential figure in the cryptocurrency world and contributed to the wider acceptance of Bitcoin.
