Global loss of trust in Fiat, which promotes Bitcoin adoption: Michael Saylor

Global loss of trust in Fiat, which promotes Bitcoin adoption: Michael Saylor

After several market analysts expressed their opinion on the main drivers behind this new increase, the former CEO of Microstrategy, Michael Saylor, recently expressed his opinion on this matter.

inflation and counterparty risks drive the introduction of Bitcoin

In a recently published CNBC Interview , Saylor noticed that two dynamics drive the broad acceptance of Bitcoin. He revealed that the first was concerned about inflation.

Saylor believes that these problems lead to a loss of trust in Fiat currencies, which leads to investors of low-risk systems such as Bitcoin:

"There is macroeconomic concern about inflation, and if inflation takes place, people lose trust in Fiat currencies. This means that they start to recognize that everything that is rated according to Cashflow is a currency derivative and Bitcoin is not evaluated according to Cashflow," he said.

The Bitcoin advocate further explained that the youngest banking crisis, including the collapse of Silvergate Bank, Signature Bank, Silicon Valley Bank and the youngest, the first republic bank, had undermined the confidence of investors in the banking system.

"The failure of the banks ... means that people in the western world lose a little confidence in the banking system and remember that Bitcoin is a bank in cyberspace that is operated by incorruptible software ... So the combination of this concern for inflation and counterpartal risks at banks are driving the acceptance of Bitcoin," he said.

microstrategy does not differ from long-term BTC plan

Saylor repeated that Microstrategy retained his confidence in Bitcoin's potential. Saylor noted that the business intelligence and software company will continue to accumulate more digital assets despite massive paper losses at a point of its approximately 140,000 BTC portfolio.

He explained that Microstrategy, which recorded significant growth in the first quarter, was "a cash cow" to pay interest rates for his debts and at the same time acquire more Bitcoin. He added that

"The real key to Bitcoin is to stick to it and endure the volatility. We have to understand our shareholders and our bonds that we are long -term hodder, and because everyone is geared towards this interest, we can survive this volatility and ultimately cut off very well if Bitcoin recovered.

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