Michael Saylor Asserts That Bitcoin Is Far Ahead Of Gold And Real Estate
During the Australia Crypto Convention in the Gold Coast, Australia, on September 17, MicroStrategy CEO and Bitcoin (BTC) evangelist Michael Saylor doubled down on his support for Bitcoin by explaining the challenges associated with transferring the value of tangible items such as gold, firm stocks or equity, and real estate.
According to Bloomberg, Saylor emphasized that BTC is supported by $20 billion in proprietary mining hardware and $20 billion in energy while discussing the fundamental proof-of-work (PoW) consensus process.
He went on to say that conventional assets like gold (in large quantities) and real estate are almost hard to transfer across geographical boundaries, adding:
“If you have a property in Africa, no one’s gonna want to rent it from you if they live in London. But if you have a billion dollars of Bitcoin, you can loan it or rent to anybody in the world.”
Saylor also emphasized the significant long-term maintenance expenses and taxes associated with owning and inheriting tangible property, which does not present in the case of Bitcoin. Geopolitical tensions throughout the world also influence the kind of assets that can be carried forward across states. He elaborated:
“Bitcoin represents a property that you can acquire in small pieces that you can carry with you anywhere you go. You can give to your children’s children’s children’s children. And in 250 years, maybe your family still owns the property.”
Only monarchs, such as King Charles III, have the freedom to pass along their money without fear of being taxed, according to Saylor, “unless it’s Bitcoin.” According to the entrepreneur, the BTC network has not been hacked in over 13 years and is now the most secure network in the world.
Finally, Saylor emphasized the BTC network’s ongoing improvements to make it quicker and more secure, as well as developments in layer 2 and layer 3 applications.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Michael Saylor Asserts That Bitcoin Is Far Ahead Of Gold And Real Estate
During the Australia Crypto Convention in the Gold Coast, Australia, on September 17, MicroStrategy CEO and Bitcoin (BTC) evangelist Michael Saylor doubled down on his support for Bitcoin by explaining the challenges associated with transferring the value of tangible items such as gold, firm stocks or equity, and real estate.
According to Bloomberg, Saylor emphasized that BTC is supported by $20 billion in proprietary mining hardware and $20 billion in energy while discussing the fundamental proof-of-work (PoW) consensus process.
He went on to say that conventional assets like gold (in large quantities) and real estate are almost hard to transfer across geographical boundaries, adding:
“If you have a property in Africa, no one’s gonna want to rent it from you if they live in London. But if you have a billion dollars of Bitcoin, you can loan it or rent to anybody in the world.”
Saylor also emphasized the significant long-term maintenance expenses and taxes associated with owning and inheriting tangible property, which does not present in the case of Bitcoin. Geopolitical tensions throughout the world also influence the kind of assets that can be carried forward across states. He elaborated:
“Bitcoin represents a property that you can acquire in small pieces that you can carry with you anywhere you go. You can give to your children’s children’s children’s children. And in 250 years, maybe your family still owns the property.”
Only monarchs, such as King Charles III, have the freedom to pass along their money without fear of being taxed, according to Saylor, “unless it’s Bitcoin.” According to the entrepreneur, the BTC network has not been hacked in over 13 years and is now the most secure network in the world.
Finally, Saylor emphasized the BTC network’s ongoing improvements to make it quicker and more secure, as well as developments in layer 2 and layer 3 applications.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
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