Michael Saylor, executive chairman and co-founder of MicroStrategy (NASDAQ:MSTR), likened Bitcoin to “Manhattan in cyberspace,” describing it as a long-lasting asset in an interview on Wednesday.
What Happened: Saylor emphasized the unique nature of Bitcoin, highlighting its capped supply and its status as a global, digital commodity, in an interview with Barron’s.
“Bitcoin is actually a way to store value without a trusted intermediary. I’m putting my money in cyberspace, and I want to transform the capital from financial and physical to digital,” Saylor said.
“It is indestructible, immortal, invisible, and you don’t have all the things that drag down the value of a building. So think of it as Manhattan in cyberspace.”
Saylor called the flow of money into Bitcoin to a flow of money from the 20th century to the 21st.
MicroStrategy’s strategy of leveraging Bitcoin has significantly impacted its stock …
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