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Michael Saylor Tweets About the Mission of Bitcoin and Its Importance

Published 11/23/2022, 02:43 AM
Updated 11/23/2022, 03:00 AM
© Reuters. Michael Saylor Tweets About the Mission of Bitcoin and Its Importance

  • Michael Saylor, the founder of MicroStrategy, shares a recent clip from the FOX Business podcast.
  • Saylor tweeted that never has the mission of Bitcoin been more important.
  • The tweet comes amid the fall of FTX and people moving their funds to self-custody.

Michael Saylor, the founder and executive chairman of MicroStrategy, mentioned in a recent tweet that the mission of Bitcoin is now of the utmost importance. He shared a clip from a podcast on FOX Business about the recent catastrophe and other topics in the cryptosphere.

The conversation between Natalie Brunell, a media personality, and the host Charles Payne of FOX Business takes users through the mission of Bitcoin and why it is important now.

Speaking on current events, Brunell stated that:

“And my reaction to all of this is really to lock them up, I just don’t mean SBF, I also mean lock up your coins.”

Brunell highlighted that never has the value proposition of Bitcoin and self-custody been more important. She also mentioned that people are turning to self-custody in large numbers. However, Brunell also expressed her grievance about the FTX, stating that it is fraudulent and should have never happened.

Speaking on the general topic of credit, Brunell mentioned that Bitcoin is not credit. She added that BTC has no counterparty risks and can be kept safely in self-custody with no issuer.

Payne, on the other hand, was impressed by the way BTC is holding up in the chaos. Brunell responded that nothing has changed the fundamentals of Bitcoin and that people are taking their BTC off of exchanges, hash rates are high, and people are opening up wallet addresses and holding.

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Brunell concluded that this series of events demonstrates the importance of why Bitcoin was invented and why we need an asset that doesn’t need a trusted third party.

The post Michael Saylor Tweets About the Mission of Bitcoin and Its Importance appeared first on Coin Edition.

See original on CoinEdition

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