Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Bitcoin Better than Physical Assets for Commoners – Michael Saylor
Prolific Bitcoin supporter Michael Saylor says Bitcoin is a better investment option than any physical asset for commoners. According to the entrepreneur, only those who come from royalty can handle the numerous factors involved in owning physical property.
The former CEO of MicroStrategy outlined some setbacks involved in transferring property like stocks, equity, real estate, or gold. Speaking at the Australian Crypto Convention, Saylor contrasted these physical assets against Bitcoin. He opined that Bitcoin is a more adaptable asset to own for the following reasons.
Physical Assets Restricted by Geographical and Geo-Political Boundaries
Moving assets like gold (in large quantities) and real estate across geographical locations is cumbersome and impossible, says Saylor. As such, the range of investors that have access to one’s property is limited by distance.
If you have a property in Africa, no one’s gonna want to rent it from you if they live in London. But if you have a billion dollars of Bitcoin, you can loan it or […] rent to anybody in the world.”
Furthermore, Saylor believes physical properties are less independent from social limitations. For example, global geopolitical issues, war, recession, and regulation can affect the movement and worth of physical assets across jurisdictions. Bitcoin, on the other hand, is not subject to such factors due to its decentralization.
“Commoners Will Do Better Investing in Bitcoin”
Indeed, Michael Saylor suggests owning Bitcoin comes with lesser headaches. Ownership of digital assets like Bitcoin involves low maintenance and straightforward inheritance policies. On the other hand, long-term possession of physical properties requires exorbitant maintenance. This is also asides from costs and taxes that come with inheriting them.
Also notably, the pro-crypto entrepreneur explained that Bitcoin is a versatile piece of property. You can carry it with you across borders and pass it on to unborn generations. It is quite possible that an average person’s descendants could still own one’s Bitcoin 250 years into the future
You can give to your children’s children’s children’s children. And in 250 years, maybe your family still owns the property.”
Saylor believes that only royalty such as King Charles III can pass down physical property without losing it through taxation. On the other hand, commoners do not have that freedom unless the property is Bitcoin.
Bitcoin is Safe and Adaptable
Finally, the Microstrategy founder highlighted the security of the Bitcoin platform. It has resisted all hack attempts in the 13 years of its existence, remaining the most secure network yet. Saylor laid emphasis on Bitcoin’s continuous upgrades geared towards improving its speed, security, and effectiveness. He also pointed out Bitcoin innovations centered around layer-2 and layer-3 applications.
According to the Bitcoin advocate, it is the best way for commoners to protect their investments. This is because it is adaptable, resistant to geographical and geopolitical boundaries, and safe from maintenance and inheritance costs.
White House Reveals Framework for Responsible Digital Asset Development
WMA: Bitcoin and Altcoins in the Red Despite Successful Ethereum Merge
Written by
More author posts
Publish your own article
Guest post article. Guaranteed publishing with just a few clicks
START PUBLISHING ADVERTISE WITH US