MicroStrategy CEO Affirms Bitcoin More Securities From Gold And Other Property Assets

Bitcoin is more valuable than gold and property land. (photo: doc. pixabay)

JAKARTA - MicroStrategy CEO and Bitcoin advocate (BTC), Michael Saylor, has again expressed his support for Bitcoin. During the Australian Crypto Convention, he explained the issues associated with transferring physical property values such as gold, company shares or equity and real estate.

Talking about the proof-of-work (PoW) consensus mechanism, Saylor highlighted that Bitcoin is backed by an exclusive US$20 billion (IDR 299 trillion) mining hardware and 20 billion US dollars worth of energy.

Dia kemudian menunjukkan bahwa aset tradisional seperti emas dalam jumlah tinggi dan tanah, hampir tidak mungkin untuk dibawa melintas batas-batas geo.

If you own a property in Africa, no one would want to rent it from you if they live in London. But if you have a billion Bitcoin dollars, you can lend it or rent it out to anyone in the world," Saylor was quoted as saying by Cointelegraph.

Saylor further underlined the high cost of maintenance and taxes associated with possessing and inheriting physical property in the long term. But in the Bitcoin case, it doesn't exist. Geopolitical tensions around the world also determine the types of assets allowed to be brought forward across jurisdictions. This also does not apply to bitcoin.

Bitcoin represents the properties you can acquire in small pieces that you can take to wherever you go. You can give it to your children and to your children and grandchildren. And within 250 years, maybe your family still owns the property," he said.

According to Saylor, only royal families such as King Charles III have the freedom to inherit their wealth without worrying about taxing "except Bitcoin." The entrepreneur reiterated that the Bitcoin network has never been hacked for more than 13 years and is currently the "safest network in the world."

On the final note, Saylor stressed the regular improvements made to the Bitcoin network to make it faster and safer, along with innovations around layer-2 and layer-3 applications.

Bloomberg analyst Mike McGlone recently argued that Bitcoin is a World card that has a good position to outperform stocks due to traditional finance inches into recession.

McGlone took him to social media platforms, including LinkedIn and Twitter. Bitcoin is a more mature wild card to outperform when stock drops, but transitions to more like gold and bonds, he added.

As Cointelegraph reports, analysis also notes that while Bitcoin will follow similar trends to treasury and gold bonds, Ether (ETH) may have higher correlation with stocks.