Michael Saylor Debunks the Myth That Volatility Is a Flaw of Bitcoin
- WBOYOriginal
- 2024-08-12 00:01:31732browse
On the other hand, Michael Saylor, the CEO of MicroStrategy and a well-known Bitcoin bull, is fully convinced that the cryptocurrency is the perfect store of value and even "the money of the future."
Bitcoin (BTC) price action has been a hot topic lately. While the cryptocurrency is gaining attention from more and more people, including qualified investors, institutions and even big ones like BlackRock or Franklin Templeton, its meaning and utility is still highly doubted by many like Peter Schiff or Warren Buffet.
Critics often point out Bitcoin's high volatility compared to traditional assets, arguing that this volatility disqualifies Bitcoin from being a store of value or being called Gold 2.0. Thus, despite its growing popularity, Bitcoin is still widely considered a speculative asset or even a gamble.
However, not everyone agrees with this assessment. Michael Saylor, the CEO of MicroStrategy and a well-known Bitcoin bull, is fully convinced that the cryptocurrency is the perfect store of value and even "the money of the future."
In a recent post on social network X, Saylor decided to debunk the opinion that volatility is a flaw of Bitcoin. He posted a chart showing how MicroStrategy's MSTR stock skyrocketed nearly 1,000% after the company adopted BTC four years ago.
Bitcoin's volatility is a feature, not a bug. pic.twitter.com/VXhO8QEHg3
Interestingly, BTC itself only went up 408% during that time. To put that in perspective, the main U.S. stock market index, the S&P 500, has only gained 59% since August 2020.
The chart was accompanied by the statement "Volatility is vitality," emphasizing Saylor's perspective that Bitcoin's volatility is a strength rather than a weakness. "Bitcoin's volatility is a feature, not a bug," Saylor added, challenging the conventional view that volatility undermines the cryptocurrency's value.
The above is the detailed content of Michael Saylor Debunks the Myth That Volatility Is a Flaw of Bitcoin. For more information, please follow other related articles on the PHP Chinese website!