MicroStrategy has set its sights on BTC as a reserve currency. The company has bought more than 21,000 bitcoins

MicroStrategy, the world's largest publicly traded company has exchanged its fiat money for Bitcoin. The reasons for these actions suggest that other large companies will not have [...] https://www.pinterest.com/pin/1085437947660215829/

MicroStrategy, the world's largest exchange company has exchanged its fiat money for Bitcoin. The reasons for this action suggest that other large companies will have no choice but to do the same. Why Bitcoin? On August 11, Michael Saylor, CEO of MicroStrategy in a press interview surprised everyone by calling bitcoin digital gold. "Bitcoin is digital gold. More stable, stronger and faster to use than any money. We expect bitcoin's value to increase as technology advances and its use expands," - said Michael Saylor. Many bitcoin supporters agree with this thesis. Saifedean Ammousa in his book titled " The Bitcoin Standard" has repeatedly stressed that the phenomenon of digital scarcity puts bitcoin above all other assets. Saylor, like Ammous, believes that the very structure of bitcoin will cause its value to increase over time. MicroStrategy exchanged fiat money for bitcoin raising concerns about the future of fiat currency. The company purchased 21,454 BTC for $250 million. That means it holds 0.1% of all bitcoin in the world. Saylor had plenty of signals that could have stopped him from deciding to buy bitcoin. These included the economic crisis caused by COVID-19 and the payment of stimulus packages to US citizens by the government there. Additional problems were the global political as well as economic uncertainty. The CEO noted that he believes the events caused by the pandemic will have consequences in the future. "We believe that these and other factors could have a significant impact on the long-term real value of fiat money and many other conventional types of assets, including many assets traditionally held in corporate treasury operations," - Saylor said. Bitcoin's strong market position After eleven years of existence, bitcoin still remains the largest cryptocurrency and there is no indication that this is about to change. Many people around the world believe that it has fulfilled its role. Alternative cryptocurrencies will remain far behind for a long time. The actions of BTC miners prove that in the long run the security and efficiency of the market will only increase. Bitcoin should remain on an upward trend as miners devote more and more resources to this digital asset. Tags bitcoin digital gold cryptocurrencies