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As concerns rise about inflation, one of the ongoing debates amongst investors is which financial asset would serve as the best long-term, store of value. Michael Saylor, CEO of MicroStrategy, argues that the dominant store of value in the 21st century must be digital, and ideally, this monetary asset takes the form of the Bitcoin standard.
“You want to fix your country like Nigeria or Zimbabwe. The way you fix your country is you buy 2 billion, $3 billion worth of Bitcoin. And you issue currency back to buy the Bitcoin. That is the Bitcoin standard. And every one of your citizens stopped starving to death and they live a decent life,” Saylor told Michelle Makori, editor-in-chief of Kitco News.
Still, skeptics remain. Bill Maher, host of the political talk show Real Time with Bill Maher, has recently criticized Bitcoin by saying “There is something inherently not credible about creating hundreds of billions in virtual wealth with nothing ever actually being accomplished and no actual product made or service rendered. It’s like Tinker Bell’s light. Its power source is based solely on enough children believing in it.”
0:00 – Bill Maher vs. Bitcoin
4:45 – Bitcoin and energy consumption
16:05 – Government regulation of Bitcoin
18:45 – Bitcoin price projection
29:10 – “Bitcoin will make the world a better place”
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