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Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>)&nbsp;investors should treat Bitcoin less like a currency and more like a “billion-dollar building in cyberspace” — to be held for 100 years, according to MicroStrategy chairman Michael Saylor.
During a March 11 interview with CNBC, Saylor <a href="https://www.youtube.com/watch?v=PGTQIl7GtMA" target="_blank" rel="noopener nofollow">argued</a> there is a “fundamental misunderstanding” among those who view Bitcoin as a currency and that Bitcoin’s “killer application” is its ability to preserve capital for hundreds of years.
“It’s going to be controversial if people think of it as a currency, so I would encourage people to think of it as digital currency, a billion-dollar property in cyberspace,” said Saylor.
<blockquote data-ct-non-breakable="true">
 “No one’s trying to buy a cup of coffee with a fraction of their building on Fifth Avenue. But every rich person I know owns property in London or New York City or somewhere, and none of them complain about having to spend their building as a medium of exchange.”
</blockquote>
Saylor argued that many of the “controversial issues” surrounding cryptocurrencies have revolved around their use as a medium of exchange and that the United States, Europe and China would be much more likely to embrace them if it were seen as digital property.
<blockquote class="twitter-tweet">
 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is Digital Property. It is superior to other investments such as Gold, Equity, or Real Estate because it is digital, available, global, ethical, &amp; useful to millions of companies and billions of people. <a href="https://t.co/738dblB0Zt">pic.twitter.com/738dblB0Zt</a>— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1767178599390458285?ref_src=twsrc%5Etfw">March 11, 2024</a>
</blockquote> 
“Medium of exchange is only worth $1 trillion; store of value is worth $100 trillion,” Saylor added in arguing why Bitcoin has a higher ceiling as a property than a currency.
Earlier this year, in a Jan. 11 interview with CNBC, BlackRock CEO Larry Fink similarly voiced that Bitcoin is better-suited as a <a href="https://cointelegraph.com/news/blackrock-ceo-larry-fink-bitcoin-currency">form of wealth storage</a> than a contender to replace national currencies.
<h3 id="bitcoin-is-going-to-eat-gold">Bitcoin “is going to eat gold”</h3>
Commenting on the impact of spot Bitcoin exchange-traded funds, Saylor said Bitcoin “is going to eat” into gold, adding, “It has all the great attributes of gold” and none of its defects. 
<blockquote data-ct-non-breakable="true">
 “It’s global; it’s the most widely recognized and trusted investment asset in the world right now. It’s ethical because it’s the king of all commodities because there’s no issuer, [and] there’s no company controlling it.”
</blockquote>
Related: <a href="https://cointelegraph.com/news/large-corporations-wirehouses-prepare-bitcoin-etf-bitwise">Large corporations, major wirehouses gearing up to buy Bitcoin: Bitwise</a>
Saylor also commented on whether he lost sleep when Bitcoin&nbsp;<a href="https://cointelegraph.com/news/bitcoin-price-falls-below-20k-for-first-time-since-2020">tumbled below $20,000,</a>&nbsp;saying he didn’t have any “question” about it rebounding strongly.
“It’s the greatest of the assets in my opinion — there’s no second best — so I didn’t have any question about it,” said Saylor.
<blockquote data-ct-non-breakable="true">
 “We’re just waiting for the rest of the world to realize how good it is.”
</blockquote>
Bitcoin’s price is currently $72,400 at the time of publication — up 9.3% over the last week and 44.7% over the last month.
Magazine: <a href="https://cointelegraph.com/magazine/wolf-of-all-streets-world-bitcoin-hits-1m-1-million-hall-of-flame/">Wolf Of All Streets worries about a world where Bitcoin hits $1M: Hall of Flame</a>

Bitcoin is more of a ‘billion-dollar building in cyberspace,’ argues Saylor

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Cointelegraph

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