SNEAK PEEK
- Bitcoin’s scarcity is a crucial feature of its appeal.
- Halving events reduce new coin issuance, potentially increasing value.
- Bitcoin is viewed by many as a hedge against inflation and a store of value.
In a recent interview with Patrick Bet-David on his podcast, Michael Saylor discussed various topics, including currencies, crypto, politics, Bitcoin, banking, macroeconomics, money, and the media. Saylor, the CEO of MicroStrategy, shared his insights on the current state of the financial industry and the potential impact of Bitcoin on traditional currencies and economic systems.
I stopped by @PBDsPodcast this morning to discuss currencies, crypto, politics, #bitcoin, banking, macro, money, and the media with @patrickbetdavid. https://t.co/IctlB4l7gN pic.twitter.com/e6ljbGM124
— Michael Saylor⚡️ (@saylor) May 9, 2023
The conversation delved into the intricacies of cryptocurrency and its role in disrupting the existing financial landscape, offering valuable insights into the future of finance. During the interview, when asked about his expectations for Bitcoin by April 2024, Saylor emphasized the critical role that Bitcoin’s scarcity plays in its overall value proposition.
He pointed out that the maximum supply of Bitcoin is fixed at 21 million and that this scarcity is a fundamental feature of the cryptocurrency’s appeal. As a result, Bitcoin’s value is not subject to inflationary pressures that affect fiat currencies, which can be printed infinitely.
Saylor further reiterated that the halving event, which decreases miners’ rewards for verifying transactions and adding them to the blockchain, will result in a slower rate of new coin issuance. Consequently, reducing the amount of Bitcoin available in circulation, potentially driving up its value in the long run.
Moreover, Saylor believes that due to Bitcoin’s limited supply and decentralized and immutable nature, many investors view it as a hedge against inflation and a store of value similar to digital gold. With this in mind, Saylor’s confidence in Bitcoin’s value as a wealth store is reflected in MicroStrategy’s substantial investment in the cryptocurrency. The firm is alleged to amount to approximately 140,000 Bitcoins held in its treasury currently.
