He suggested Venezuelans believe that cryptocurrency would improve their lives. The executive revealed the strategy that MicroStrategy applies to avoid the risks of volatility.
Michael Saylor believes that people would improve their lives if they trust bitcoin as a financial option. He specifically pointed at Venezuela, even though the country has remained drowned in nightmarish hyperinflation since November 2017.
These thoughts appeared this Friday, July 2 through the video podcast Let’s Talk About Bitcoin, produced by the Satoshi organization in Venezuela.
Saylor expressed that people must assert the ability to store their economic energy, which they can do with bitcoin under their control. Users should not wait for a banker, a politician, or an executive to do something that would end up making them lose their savings.
The CEO of the software company, which intends to sell up to $ 1 billion in shares to keep purchasing bitcoin, believes that the next few decades will focus on the digital transformation of the property, precisely what the world already has with bitcoin.
Saylor maintains that people should stop thinking of gold as the main asset. These citizens should also stop believing that land, collectibles, or storing their money in the bank are the only available options to invest and increase finances.
What Saylor suggests is to put their property in a currency like bitcoin. He believes that Bitcoin is the best alternative today because it is a currency managed from just a mobile device.
Saylor Suggests to Stop Trusting Fiat currencies, Bitcoin is the Best Ally
Bitcoin is already transforming the lives of many people worldwide. For nations with economic crises such as Venezuela, Colombia, South Africa, Nigeria, Kenya, and others, crypto-asset adoption seems to be their best option. For this reason, Bastardo asked Saylor if he believes that affected populations by the devaluation of their national currencies are a requirement for them to accept bitcoin.
Saylor revolved around the urgency of a new economic system, which would be impossible to appreciate without bitcoin. From his perspective, turning to the dollar to preserve value can be a solution for one and up to three years. But it will not be a good decision in the long term, like for a decade.
Saylor said: “You will not be able to preserve value with the dollar, you will need to turn it around with a more solid asset, and this asset is bitcoin. I see that Bitcoin is a stored value, while the US dollar is just a medium of exchange.”
Saylor continued his speech in response to a question made by Bastardo regarding the volatility risks.The chairman revealed the strategy that MicroStrategy implements to avoid any harm due to the intense fluctuations in the cryptocurrency price. His company is the publicly traded company with the most solid BTC holding worldwide, with more than 92,000 bitcoins in its assets.
By: Jenson Nuñez
