Crypto News – The executive chairman of the board at MicroStrategy, Michael Saylor, thinks Bitcoin is the ideal way to keep wealth and shield it from the hazards of political unpredictability and inflation. Saylor made this statement when speaking with American Safe Money Specialist Stephen Gardner.
Michael Saylor Believes Bitcoin Will Protect People from Both Inflation and Governments
The session started with the MicroStrategy Chief outlining the dynamics of monetary inflation. Saylor characterized inflation as a vector. Consumer inflation, according to him, is a gauge that offers details on the cost of goods whose quality is continuously degrading.
Consumer inflation, in Saylor’s opinion, is the amount of money required to maintain one’s current level of poverty and lower-middle-class living standards. On the other hand, asset inflation is the rate at which wealth is created to keep one’s current level of wealth or to surpass it if one wishes to increase it.
The MicroStrategy executive pointed out that over the past 100 years, asset inflation in the US has been between 7-8%, while consumer inflation has stayed at approximately 2%. According to Saylor, the current explosion in asset inflation has produced an unusual situation.
Bitcoin is More Advantageous Against Inflation
The inflation dynamics were used by the founder of MicroStrategy to compare how quickly fiat currencies depreciate. He explained how people who save their money in conventional currencies run the risk of losing it. Saylor demonstrated using a typical example that wealth held in US dollars over the past 100 years would have lost nearly 99% of its value. Others might lose them in the economies of unreliable governments, where they might fall prey to policy reversals.
According to its inherent characteristics, Saylor believes Bitcoin is built to mitigate these dangers. He views Bitcoin as a ground-breaking piece of technology with a host of advantages, including a 21 million coin limit. It is a conservative monetary system as a result, free of inflation or leaks. He pointed out that using Bitcoin can help you keep your economic momentum steady.
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