For Saylor, it is normal for the dollar and bitcoin to coexist in an economy. The whole world is now realizing that Bitcoin is the most powerful and innovative technology out there.
For the CEO and president of MicroStrategy, Michael Saylor, the adoption of bitcoin as legal tender in El Salvador in parallel with the US dollar, might be the clearest demonstration of what the digital economy will be like in the years to come.
The executive posted on his Twitter account an interview led by Coindesk on June 14, in which he said that those who resist using bitcoin will realize that the only way they can implement a digital currency for everyone is with a digital asset and an open monetary protocol. And that digital currency will be Bitcoin. He strongly believes that Bitcoin is, in fact, the most powerful dominant digital property worldwide.
The executive also spoke about the Law that will convert Bitcoin into the legal tender in El Salvador. He replied that nations currently need a reserve asset like bitcoin. El Salvador also needs a way to move billions of dollars across borders without paying large remittance fees.
The Dollar Still Remain the World’s Reserve Currency
For Saylor, Bitcoin will not take the dollar’s place in the world economy. Rather, it will make its access to millions of people around the world easier in the form of stablecoins. The US dollar will keep on being the reserve currency of the world, said the CEO of MicroStrategy.
The CoinDesk moderator asked him if he was talking about the digital dollar as in a central bank, a digital currency, or some other form. Saylor extended his opinion on the comment by saying that he means the dollar will spread to billions of people on crypto rails, and for it to reach everyone it will have to achieve a connection to an open digital monitoring network and that network is Bitcoin.
People usually get to think that both are in constant conflict, but they are not. What users will see is the US dollar and bitcoin, both spreading and reaching billions of people because the world needs both currencies to be active in the market.
Regarding the criticism that has been generated around bitcoin, the CEO of MicroStrategy clarified that these stances are all indicators that the whole world begins to realize that Bitcoin is the most powerful and committed technology of the decade.
Michael Saylor Would Finance a Project for Bitcoin
In addition to the large investments that Saylor has made in bitcoin through his company, the CEO of MicroStrategy has also offered his money in financing the development of this monetary protocol. In February of this year, Saylor, in conjunction with Twitter CEO Jack Dorsey, announced their funding for the Massachusetts Institute of Technology (MIT) project to bolster Bitcoin.
Through the Digital Currency Initiative, MIT would further strengthen security in the Bitcoin network. The study center explained that the initiative will complete its development in at least four areas in the next 4 years. This development goes to face new threats.
By: Jenson Nuñez
