Despite Being Pro-Bitcoin, Michael Saylor has an Alarming Prediction to Share around Bitcoin
As per the latest reports, Michael J. Saylor, the Chief Executive Officer (CEO) at MicroStrategy has made a prediction about Bitcoin (BTC) in the United States. Saylor has spoken his mind when it comes to how the United States’ administration and mainstream institutions are going to deal with Bitcoin.
According to Saylor, Bitcoin is not a digital currency, instead, it is a digital property. His point was that at present, people are not perceiving it as a digital currency, which Bitcoin was launched to exist as. Instead, Bitcoin, due to its value and market price has ended up earning a reputation of being a digital property.
The CEO of MicroStrategy, a business intelligence giant has made his statement about Bitcoin on July 15, 2021. Saylor made the statement about the status of Bitcoin in the United States during a podcast called “Coin Stories”. This particular podcast is hosted by Natalie Brunell.
Saylor shared his remarks around Bitcoin and predicted his future when Brunell asked him if Bitcoin could end up posing a threat to the USD.
Answering Brunell’s question, Saylor stated that he does not think that Bitcoin would ever be able to take its place in the United States as a currency. Even with so much growth and adoption in the United States, it is still being perceived as digital property instead of being a digital asset.
He stated that keeping the above in mind, it can be said that Bitcoin is a threat to the property, not to the United States dollar.
Therefore, Bitcoin poses a threat to the United States in the form of different assets but not in the form of a currency. He added that gold has been treated as property as well as real estate. The people of the United States are currently dealing with Bitcoin as a digital property and not as a digital currency.
He clarified that the government of the United States of America has no threats from real estate or gold, which means that the country has not threats from Bitcoin.
Just a week back, Saylor had made a similar statement at another podcast hosted by Scott Melker. That was the first podcast where Saylor opened up about the status of Bitcoin in the United States and it poses no threat to the United States of America.
He stated that Bitcoin has not been accepted as a currency in the United States. He added that he does not think that the people of the United States would ever accept it as a currency.
According to Saylor, Bitcoin has started impacting other markets except for the United States dollar. So far, Bitcoin has already started demonetizing other properties in the country but it is posing no impact on the USD.