Bitcoin Misconceptions Spotted by Saylor According to Strategy, as perceptionalized by Warren Buffett
Chatting With Michael Saylor on Google News
Ryan Rasmussen, Bitwise Invest's head researcher, recently sat down with Michael Saylor, Strategy's CEO, who shared some intriguing thoughts about Bitcoin. When asked about Warren Buffett's criticism of Bitcoin, Saylor stated it represents a "game-changer" in today's financial landscape.
Saylor referenced historical examples like electricity, radioactivity, and radio waves, insinuating that Bitcoin could possess similar groundbreaking impact. He likened those who fail to see Bitcoin's potential to people in 1890 who were oblivious to the potential of electricity.
"New York City operates on electricity, and all our planes, trains, and automobiles are based on fire, yet many are still afraid of it," Saylor commented. He suggested that engineers harness these powerful forces, and the same principle applies to Bitcoin.
Bitcoin provides ten times more energy content than traditional assets, and those who know how to tap into its energy could propel their corporations forward using this cryptocurrency as an engine of growth.
Buffett, known as one of Bitcoin's fiercest critics, famously called it "rat poison squared" back in 2018. Despite his immense net worth of $166 billion, Buffett has publicly stated that he wouldn't purchase all the existing Bitcoins for mere dollars.
As reported by U.TODAY, Buffet doesn't see Bitcoin as a reliable store of value or medium of exchange. However, Saylor believes that Bitcoin, functioning as a digital gold, offers superior value as a store of value and portfolio diversification. He also emphasizes that increasing institutional demand and broader recognition can drive Bitcoin's value higher.
- Michael Saylor, Strategy's CEO, boasts that Bitcoin, like electricity, radioactivity, and radio waves, could potentially possess a similar groundbreaking impact in today's financial landscape.
- Contrary to Warren Buffett's views, Ryan Rasmussen, Bitwise Invest's head researcher, and Saylor believe that Bitcoin, functioning as a digital gold, may offer superior value as a store of value and portfolio diversification.
- Saylor suggests that just as engineers harness powerful forces like electricity, the same principle applies to Bitcoin, as it provides ten times more energy content than traditional assets.
- Rasmussen and Saylor refuse to be intimidated by cryptocurrency rumors or Buffett's criticism of Bitcoin, viewing it as a possible engine of growth for corporations willing to tap into its energy.
