- MicroStrategy CEO explains why Bitcoin is better.
- Saylor expresses long-term belief in the king coin.
Bitcoin’s [BTC] impressive rise last week has renewed investor optimism, especially after exchange-traded funds (ETFs) crossed the $20 billion inflows milestone.
However, concerns are growing as more of BTC’s supply becomes concentrated in the hands of a few large institutions. This has led to questions about whether this centralized control increases the risk of seizure or confiscation, similar to what happened with gold in 1933 under Executive Order 6102.
MicroStrategy Executive Chairman Michael Saylor addressed these concerns in a recent interview on Markets with Madison.
He argued that unregulated private holders are at a greater risk of seizure. Yet, this risk decreases when BTC is held by regulated entities like BlackRock, JP Morgan, and Fidelity.
Additionally, Saylor suggested that lawmakers are unlikely to support any moves that could threaten these institutions. He pointed out,
“That’s where all their retirement money is invested.”
The exec also highlighted the benefits of Bitcoin being held by regulated entities, including reduced volatility and a lower risk of loss.
Bitcoin against quantum computing
Speaking of potential risks, quantum computing is emerging as a threat to current cryptographic systems, including public-key cryptography. This raises the question: Will Bitcoin be able to withstand this new challenge?
Well, Saylor remained quite optimistic. The CEO acknowledged that as computers evolve and become more powerful, the network will strengthen its defenses.
He emphasized the robustness of the king coin, stating,
“Bitcoin is the most cyber-resistant, the most powerful digital network on Earth. It’s the hardest thing to hack.”
With trillions of dollars at stake, Saylor expressed confidence that those most incentivized to protect their money will ensure the latest technology is implemented into the Bitcoin network to safeguard it.
BTC: The superior asset?
Meanwhile, the comparison of Bitcoin with traditional assets, as well as other cryptocurrencies, has been a topic of continued debate.
So, what makes BTC a strong contender in this race for superiority? According to Saylor, BTC’s unique origin story and decentralized nature set it apart.
He referred to Bitcoin’s launch by its anonymous creator, Satoshi Nakamoto, as an “Immaculate Conception”—free from personal gain or central control, a feature that distinguishes it from other cryptocurrencies.
Saylor argued that Bitcoin’s appeal lies in the fact that,
“All the smart money in the world decided that’s the winner.”
This assertion is evidenced by increasing institutional interest, including MicroStrategy’s own.
As per the latest data from Bitcoin Treasuries, MicroStrategy held 252,220 BTC, worth approximately $17.42 billion.
This substantial investment reflects Saylor’s continued confidence in Bitcoin’s potential as the superior digital asset.
Source: Bitcoin Treasuries
Powered by WPeMatico
