{"id":20856,"date":"2023-05-12T13:03:46","date_gmt":"2023-05-12T13:03:46","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-rises-as-apex-money-amid-financial-crises-says-microstrategys-michael-saylor\/"},"modified":"2023-05-12T13:03:46","modified_gmt":"2023-05-12T13:03:46","slug":"bitcoin-rises-as-apex-money-amid-financial-crises-says-microstrategys-michael-saylor","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-rises-as-apex-money-amid-financial-crises-says-microstrategys-michael-saylor\/","title":{"rendered":"Bitcoin Rises as Apex Money Amid Financial Crises, says MicroStrategy’s Michael Saylor"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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In a recent appearance on the David Lin Report, MicroStrategy\u2019s founder and executive chairman, Michael Saylor<\/a><\/strong>, expressed a counterintuitive perspective on the current financial turmoil. In Saylor\u2019s view, the banking and currency crises could be a boon for Bitcoin (BTC), as it becomes an attractive alternative for the \u201csmart money.\u201d<\/p>\n

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Bitcoin: The Attractive Alternative<\/strong><\/h3>\n

Saylor argues that the financial crises we are currently witnessing are accelerating the flow of sophisticated investors towards Bitcoin<\/a>. The erosion of confidence in the traditional banking system and fiat currencies is, paradoxically, creating an opportunity for alternative \u201ccommodity monies\u201d such as Bitcoin and gold.<\/p>\n

\u201cThe systemic breakdown of banks and fiat currencies is triggering a rush of intelligent capital into Bitcoin,\u201d Saylor commented.<\/p>\n

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The Erosion of Trust in Fiat Currencies<\/strong><\/h3>\n

Saylor believes that the loss of faith in traditional monetary systems is universal. This phenomenon is evident in countries with hyperinflation such as Venezuela and Argentina, but it is also subtly occurring in Western countries like the United States and Europe.<\/p>\n

\u201cWhen faith in monetary systems begins to crumble, people naturally start considering commodity monies. If the banks are no longer reliable, if money can\u2019t be transferred across borders easily, and if the currency keeps depreciating, commodity monies become a viable alternative,\u201d said Saylor.<\/p>\n

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Bitcoin: A Superior Commodity Money<\/strong><\/h3>\n

In the context of alternative \u201ccommodity monies,\u201d Saylor sees Bitcoin outshining others, including gold. He points out that Bitcoin\u2019s digital nature gives it an edge over physical commodities.<\/p>\n

\u201cUnlike other forms of commodity money, Bitcoin is not slow, doesn\u2019t require high maintenance, and is not physically constrained. Moreover, it\u2019s fungible and its transaction costs are relatively low. In a world searching for a commodity money solution, Bitcoin stands as the king,\u201d Saylor argued.<\/p>\n

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The Silver Lining in Financial Crises<\/strong><\/p>\n

The MicroStrategy executive further highlighted Bitcoin\u2019s inherent scarcity as a unique advantage. He explained that while an increase in the price of commodities like oil or gold typically triggers increased production, Bitcoin\u2019s supply is strictly capped. Therefore, it\u2019s immune to inflationary pressures induced by price increases.<\/p>\n

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\u201cBitcoin\u2019s digital format enables it to be carried \u2018in the palm of your hand,\u2019 a feat impossible for 125,000 barrels of oil. Its scarcity also sets it apart from other commodities whose supply increases with price. Bitcoin\u2019s supply is fixed, making it the ultimate form of money,\u201d Saylor concluded.<\/p>\n

Saylor\u2019s observations underscore the growing appeal of cryptocurrencies like Bitcoin, especially in times of financial instability. As such, Bitcoin\u2019s role as a potential hedge against financial crises appears to be gaining more recognition.<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) In a recent appearance on the David Lin Report, MicroStrategy\u2019s founder and executive chairman, Michael Saylor, expressed a counterintuitive perspective on the current financial turmoil. In Saylor\u2019s view, the banking and currency crises could be a boon for Bitcoin (BTC), as it becomes an attractive alternative […]<\/p>\n","protected":false},"author":5,"featured_media":20857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/20856"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=20856"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/20856\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/20857"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=20856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=20856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=20856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}