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Bitcoin Bull Michael Saylor Says Bitcoin Is a Commodity

Cryptocurrency Jun 28, 2022 05:30AM ET
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© Reuters Bitcoin Bull Michael Saylor Says Bitcoin Is a Commodity

    • Crypto bull Michael Saylor said Bitcoin is a commodity, which is essential for any treasury reserve asset.
    • This allows politicians, agencies, governments, and institutions to support Bitcoin as a technology.
    • Saylor is optimistic that Bitcoin will grow the economy and extend property rights and freedom to all.

MicroStrategy CEO Michael Saylor, who has been one of Bitcoin’s most vocal advocates in recent months, is helping to take the cryptocurrency mainstream. The Bitcoin bull shared a video to his 2.5 million Twitter (NYSE:TWTR) followers, adding that Bitcoin is essential as a treasury reserve asset, which will allow governments and institutions to support it as a digital asset to grow the economy.

Earlier this week, Saylor tweeted that Bitcoin is 100x bigger than the next best digital commodity network and utterly unique. Saylor’s views on Bitcoin come after SEC Chair Gary Gensler affirmed BTC’s commodity status.

Gensler said he saw many crypto assets having attributes of a security, adding that Bitcoin is the only crypto he was comfortable publicly labeling as a commodity. A series of reactions by the community led to a recognition that Gensler’s comments were actually bullish for Bitcoin.

In the video, Saylor says that Bitcoin is a commodity, which is essential for any treasury reserve asset. This allows politicians, agencies, governments, and institutions to support Bitcoin as a technology that can grow the economy and extend property rights and freedom to all.

Saylor says that cryptocurrency is still in its early stages, but he believes it has the potential to become one of the most important inventions of our lifetime.

Saylor has been one of Bitcoin’s most vocal advocates in recent months, and his company MicroStrategy has turned itself into a BTC powerhouse, with a recent announcement of plans to acquire more Bitcoin. Saylor is helping to take Bitcoin mainstream, and his views on the cryptocurrency are sure to have a major impact on its future.

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Bitcoin Bull Michael Saylor Says Bitcoin Is a Commodity
 

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Comments (2)
Steven Des
Steven Des Jun 28, 2022 7:22AM ET
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haha. Just to make sure that everybody knows he is an idiot. This guy is about to be margin called. He has to hope price stays above 20000.
Assel Kopp
Assel Kopp Jun 28, 2022 7:22AM ET
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not true, he says he will push more money in and move margin call down till btc hits 8k. hes a billionaire still.
john mcnaught
john mcnaught Jun 28, 2022 6:52AM ET
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90% of holders of Bitcoin only hold a fraction of the coin - so how is this the answer to today’s problems when the majority is owned by the few??
Assel Kopp
Assel Kopp Jun 28, 2022 6:52AM ET
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bitcoin cant fix peoples greed. money will allways concentrate. but btc takes the controll over the currency away from some people and so takes away the power from goverments and central banks. nothing else. but this has huge consequences.
 
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