Michael Saylor Bitcoin Definition: He Believes BTC Is a Billion Dollar Building in Cyberspace

Crypto News – Chairman of MicroStrategy Michael Saylor suggests that investors treat Bitcoin less like money and more like a “billion-dollar building in cyberspace” that they should own for a century.

Michael Saylor Bitcoin Definition: He Believes BTC Is a Billion Dollar Building in Cyberspace

In an interview with CNBC on March 11, Saylor stated that those who consider Bitcoin to be a currency have a basic misconception about it and that its greatest use is for long-term capital preservation.

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. No one’s trying to buy a cup of coffee with a fraction of their building on Fifth Avenue. But every rich person I know owns property in London or New York City or somewhere, and none of them complain about having to spend their building as a medium of exchange.

Saylor

Larry Fink also Sees Bitcoin as a Storage of Wealth

The usage of cryptocurrencies as a medium of trade has been at the center of many contentious debates, according to Saylor, who also asserted that if they were recognized as digital property, the US, EU, and China would be far more inclined to accept them.

According to BlackRock CEO Larry Fink, Bitcoin is more appropriate as a means of storing wealth than as a potential replacement for national currencies. Fink made this same argument earlier this year in an interview with CNBC on January 11.