Bitcoin is an ideology, protocol, assets and commodity, Michael Saylor said. He added that Bitcoin is digital rarity, digital gold and digital money.
Saylor shared his thoughts while presenting “21 Truths of Bitcoin” at the Digital Assets Summit in New York on March 20th.
Saylor is the co-founder of MicroStrategy. It currently operates under the name “Strategy” (NASDAQ: MSTR/STRK). He called for the perfect, ethical and legitimate cryptocurrency at the summit. He added that Bitcoin is corporate, global and immortal.
The strategy co-founders didn’t stop there, calling Bitcoin a digital energy network, digital economy system and digital defense system. He attributed some innovative labels to the world’s largest cryptocurrency when the audience heard him.
Saylor said Bitcoin is “the perfect money.” Previously, he argued that it was impossible to make perfect money from the advent of modern semiconductors, modern internet and modern encryption.
Bitcoin enthusiasts argued that the father of the country’s founder defined only gold and silver coins as legal money for its status as commodity. They considered these products to be liquid and easiest to ask for, so they designated gold and silver as “perfect money” in the constitution, Saylor said. However, given the trend towards inflation, he added that gold and silver are by no means perfect, as gold and silver cannot be used for all trades. Bitcoin solves this problem.
Saylor has also expanded the global nature of Bitcoin. Buying Bitcoin allows you to enter into financial relationships with people in Nigeria and Singapore. You will need to redo or restore your warehouse or artwork, but Bitcoin does not have that problem.
Saylor also highlighted how Bitcoin is currently perceived as a strategic asset by the US government, referring to President Donald Trump’s recent executive order establishing a strategic Bitcoin reserve.
Bitcoin has reached $13 billion in 20 years, and Saylor doubled his previous claims during the talk.
Saylor’s strategy is Bitcoin’s biggest corporate holder and has stocked up on assets since 2020. According to Bitcoin Treasure Lee, the company holds 499,226 BTC, worth $419.6 billion as of March 21st.
The strategy recently priced a new preferred stock offer, raising $711.2 million. The offering is scheduled to close on March 25th.
MSTR stock was trading at $302.75 at the time of press.
According to Kraken’s price supply, Bitcoin had exchanged hands for $84,033.93 at the time of writing.