- Michael Saylor says that Bitcoin is helping the conversion of capital from the analog world to the digital world.
- He noted Bitcoin’s resilience to external factors such as weather, war, and supply chain disruptions.
- Bitcoin whales have strategically purchased more than 100,000 BTC over the past ten days.
In a recent interview with Fox Business, MicroStrategy founder and Bitcoin advocate Michael Saylor delved into the concept of money as economic energy and the transformative power of Bitcoin on the global financial landscape.
The interviewer referred to one of Saylor’s previous podcasts, seeking clarification on his assertion that “Money is economic energy.” Saylor responded, stating that this is a pivotal question of our times, one he spent most of his adult life without fully understanding.
He explained that economic energy constitutes capital and wealth, currently valued at around $900 trillion, tied up in real estate, stocks, bonds, and various currencies. Saylor emphasized that Bitcoin represents the digital transformation of capital.
He cited the increasing flow of millions of dollars from the analog world to the digital world, particularly evident in the growth of recently-approved Bitcoin spot exchange-traded funds (ETFs).
According to Saylor, the primary driver for Bitcoin is its killer use case, “capital preservation and appreciation.”
When questioned about the positive impact of this conversion on humanity, Saylor drew a parallel between power and energy. In the context of Bitcoin, Saylor characterized it as a digital property conveyed by digital power, with miners acting as digital power providers.
He highlighted Bitcoin’s resilience to external factors such as weather, war, and supply chain disruptions, contrasting it with the vulnerabilities that plagued the analog world in the 20th century.
As Bitcoin’s price surged to nearly $53,000, MicroStrategy, the largest corporate owner of the cryptocurrency, witnessed its holdings surpass $10 billion, resulting in a profit of over $4 billion. The firm’s investor presentation revealed that, as of February 2024, MicroStrategy held 190,000 Bitcoins, purchased for $5.93 billion.
Meanwhile, the surge in Bitcoin’s value continues, with recent data revealing a substantial accumulation by influential investors. According to a crypto on-chain analyst, Bitcoin whales have strategically acquired more than 100,000 BTC over the past ten days, marking a substantial investment exceeding $5 billion in total value.
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