According to Saylor, Bitcoin’s decentralized nature pivots the asset as an economic machine built on the truth while solving some of the inefficiencies in the traditional finance sector, he said during a speech at The Atlas Society on October 18. Saylor, a renowned crypto proponent, also equated Bitcoin to a union bound to grow stronger due to projected capital inflow in the future. He added:
Bitcoin’s unique features
Saylor, who led MicroStrategy to accumulate Bitcoin in August 2020, noted that despite the existence of many digital assets, the maiden cryptocurrency stands out due to its unique features. For years, he noted there had been calls to separate economics from the state, but there lacked a technology to achieve the mandate. However, he pointed out the emergence of Bitcoin ushered in an opportunity to remove government involvement in transactions.
Bitcoin and ‘economic slavery’
The executive stated that the onset of the pandemic pushed more people to realize that they needed a solution to the existing ‘economic slavery.’ According to Saylor: It is worth noting that MicroStrategy is among the leading institutions that first placed a bet on Bitcoin. Despite the ongoing market correction, the company is actively accumulating more Bitcoin. The recent purchase came between August and September, with an additional 301 Bitcoins bought at an average price of $19,851 per coin. Watch full speech below:
