Please don’t skip this message — it only takes a minutes to read. Sorry to bother you, but time is running out.

Bitcoin is freedom. If you think independent, ‘bitcoin-only’ media is important, if you believe information and education about bitcoin matters for adoption, and if you have gained something from our work, we would be grateful if you could chip in $21. 

Join the 2% of our readers who occasionally make a donation. If everyone reading this donated just $21, we would reach our target in a couple of hours. $21 is all we ask for. To cover the cost for our servers, editors, writers, and thumbnail artists we rely on our readers’ generous support. 

How You can chip in:

  • Send sats as a tip to a writer. All of our writers have an active tipping widget.
  • Join our campaign on geyser.fund. 
    Awesome perks are waiting for you such as the limited edition Bukele Blend Coffee from El Salvador.
 

Your support ensures that Bitcoin News stays independent with a laser focus on Bitcoin and only Bitcoin.

DONATE NOW

Bitcoin Adoption Will Surge as Trust in Fiat Falters Worldwide — Says MicroStrategy’s Michael Saylor

Bitcoin-Adoption-Surge-Fiat-falters

Support free writers: > send a tip

written by

The adoption of bitcoin has gained momentum in recent times as investors continue to accumulate more of the digital money. Various market analysts have offered their perspectives on the primary catalyst for this resurgence, and Michael Saylor, the former CEO of MicroStrategy, has also shared his thoughts on the subject.

During a recent interview with CNBC, Saylor pointed out two factors that are driving the widespread adoption of bitcoin. The first of these, according to him, is the apprehension regarding inflation. Saylor is of the opinion that such concerns lead to a decline in trust in traditional fiat currencies, prompting investors to shift towards risk-averse assets such as bitcoin.

He stated: “There’s the macroeconomic concern about inflation and as inflation takes place, people lose confidence in fiat currencies. That means they start to realize that everything valued on cash flow is a currency derivative and bitcoin is not valued on cash flows.”

According to the bitcoin advocate, the recent spate of banking crises, which includes the collapse of financial institutions like Silvergate Bank, Signature Bank, Silicon Valley Bank, and most recently, First Republic Bank, has eroded investors’ confidence in the banking system.

“The failure of the banks… causes people in the Western world to start to lose a little bit of faith in the banking system and they remember that bitcoin is a bank in cyberspace run by incorruptible software… So the combination of that concern about inflation and counterparty risks with banks is driving bitcoin’s adoption,” he added.

Saylor restated MicroStrategy’s unwavering belief in bitcoin’s potential. He emphasized that despite experiencing significant paper losses on its portfolio of around 140,000 BTC at one stage, the business intelligence and software company intends to keep accumulating more of the digital money.

Enjoyed the article?

100% of your tips go directly to [email protected]
Need a wallet? Get it here

⚡️ Tip The Author

Help spread this article :)

BitcoinNews.com is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of BitcoinNews.com

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by BitcoinNews.com to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of BitcoinNews.com 

   Advertisement

bitcoin shop miami

Read More Bitcoin News

Hayek And Bitcoin

Hayek and Bitcoin

Hayek passed long before Bitcoin’s inception, but in his book The Denationalisation of Money, he argued for nothing short of stripping the state of its monopoly power of money itself.

Read More »

   Advertisement

bitcoin shop miami

Join our Newsletter

Video of the Week

   Advertisement

Latest on Bitcoin News

Join our Newsletter

   Advertisement