Michael Saylor Reveals Bitcoin’s True Value Despite Record Inflation
Michael Saylor – The record U.S. inflation rate, which hit an all-time high and precipitated yet another round of asset sales, was the main topic of conversation on financial markets, and in particular in the cryptocurrency space.
Michael Saylor, the CEO of MicroStrategy and a well-known Bitcoin expert and enthusiast, didn’t ignore the hot topic and once more aired his opinion on the true value of BTC.
Michael Saylor claims that despite the fact that U.S. inflation is at a record 9.1% and that other major global reserve currencies are degrading even faster versus the dollar, many individuals are still unaware that 1 Bitcoin is worth exactly 1 Bitcoin.
Michael Saylor makes it obvious
Saylor makes it obvious that, as a true cryptocurrency expert, he does not compare the value of cryptocurrencies to that of fiat money. As a result, even while macroeconomic indicators exert considerable pressure on Bitcoin quotations, its intrinsic value is unaffected. MicroStategy’s “paper” loss from its Bitcoin assets currently amounts to more than $1 billion.
The company’s 129,699 BTC holdings as of June 28 were worth about $4 billion and were acquired at an average cost of $30,664 per BTC. The most recent verified Bitcoin transactions by MicroStrategy included 480 BTC worth $10 million.
A recession is imminent
The greatest 12-month gain since November 1981, the U.S. CPI inflation index increased to 9.1% in the year that ended in June. The markets were anticipating a figure of 8.8% at the same time, which was unjustified and is already producing a very negative reaction.
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