Michael Saylor, founder of MicroStrategy, said that central bank digital currencies (CBDC) will fail.
MicroStrategy, the company of Bitcoin maximalist Michael Saylor, is the company with the most Bitcoin institutionally. The company continued to increase the amount of Bitcoin by purchasing 301 Bitcoin (BTC) in the past days. Continuing his confidence in Bitcoin, Saylor is of the opinion that CBDCs will fail.
Michael Saylor: Bitcoin Superior to CBDCs
Michael Saylor, head of MicroStrategy, claims that Bitcoin is superior to CBDCs.
According to Saylor, Bitcoin is better than CBDCs thanks to its relationship with scarcity, time and energy. At the same time, he believes that Bitcoin is better than gold and real estate because scarcity is preferred to commodities or securities.
Citing an article describing how digital scarcity is making Bitcoin better than CBDC, Saylor thinks CBDCs will fail in the future for reasons such as centralization. He offers the titles of power to exert pressure on demand and authority, vulnerability to bankruptcy, intervention or collapse as reasons.
The price of Bitcoin (BTC) continues to struggle to surpass the $20,000 level. BTC price is currently trading at $19,309.
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