Saylor argues that Bitcoin is akin to a ‘cyberspace edifice worth billions.’

Bitcoin investors should shift their perspective and view Bitcoin as a “billion-dollar building in cyberspace” rather than just a currency, according to Michael Saylor, the chairman of MicroStrategy. In an interview with CNBC, Saylor argued that there is a misunderstanding among those who see Bitcoin solely as a currency. He believes that Bitcoin’s true value lies in its ability to preserve capital for centuries. Saylor encouraged people to think of Bitcoin as a digital property with immense value. He pointed out that the controversies surrounding cryptocurrencies mainly stem from their use as a medium of exchange, and suggested that if Bitcoin were seen as digital property, it would be more widely accepted by countries like the United States, Europe, and China. Saylor emphasized that Bitcoin’s potential as a store of value far surpasses its potential as a medium of exchange. He compared the store of value market, which is worth $100 trillion, to the medium of exchange market, which is worth only $1 trillion, to support his argument. Saylor’s views align with those expressed by BlackRock’s CEO, Larry Fink, who also believes that Bitcoin is better suited as a form of wealth storage rather than a replacement for national currencies. Saylor further predicted that Bitcoin will surpass gold, stating that it has all the advantages of gold without any of its drawbacks. When asked about his reaction to Bitcoin’s price dropping below $20,000, Saylor expressed confidence in its strong rebound. He stated that Bitcoin is the best asset in his opinion, with no second-best option. Currently, Bitcoin’s price stands at $72,400, showing a 9.3% increase over the past week and a 44.7% increase over the past month.