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Fed Governor: Crypto Will Not Replace US Dollar As World Reserve Currency

Microstrategy executive chairman Michael Saylor considers Bitcoin the most popular investment asset in the world.

For information, Microstrategy now has 190,000 BTC and claims to be the first Bitcoin development company in the world.

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Quote News.bitcoin, Friday (16/2/2024) Saylor explained his reasons for seeing Bitcoin as the most popular investment asset in the world. He said, one of the things that can be seen is the price performance of these crypto assets.

“I think a lot of this is indicative of bitcoin's popularity as an asset class,” Saylor said.

“(Bitcoin) is new, digital, global, unique, and uncorrelated with traditional risk assets because it has no impact on countries, currencies, companies, quarterly results, product cycles, competitors – not to the weather, not to war, not to employee base or supply chain,” he explained.

“So that makes it a natural addition to any responsible investor's portfolio. There's 10 years of pent-up demand that people have been waiting for for this )spot bitcoin ETF) and finally mainstream investors can access bitcoin, and I think that's what's driving the surge capital across asset classes,” said Microstrategy's chief executive.

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Saylor then commented on the launch of a spot bitcoin ETF.

“Initially, there was a rebalancing as people moved capital between the futures markets, and the miners, and the Micro Strategies and ETFs,” he explained.

“I think the asset (Bitcoin) has found its footing and now people are starting to realize that there is 10 times more demand for Bitcoin coming through these ETFs compared to the supply coming from the natural seller which is the miners,” added Saylor.

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Fed Governor: Crypto Will Not Replace US Dollar As World Reserve Currency

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