LAGOS (CoinChapter.com) — Top crypto enthusiast and CEO of MicroStrategy, Micheal Saylor is once again in the news. This time around he points out that owning the ‘King Crypto’ Bitcoin is a better investment move as compared to owning physical properties.
Micheal Saylor is known for his huge support of Bitcoin. His company MicroStrategy also has a major part of its assets stored as Bitcoin. He made this statement during the recently concluded Australia Crypto Convention.
Rising inflation, following the COVID-19 pandemic and the current Ukraine war, is becoming a major source of global concern. According to Robert Kiyosaki, the author of Rich Dad, Poor Dad, real inflation is currently at 16% and not 7%. This figure is expected to rise and savers in fiat currencies will definitely be at the losing end.
Buttresing this fact, Saylor reveals that while physical assets like Gold, Real estate, etc might be a better alternative to fiat savings, they are not the best available hedge against inflation. Important factors like high maintenance costs, taxes, etc all affect owning physical assets like real estate and gold. Interestingly, in the case of Bitcoin these costs do not exist.
Moreover, other physical assets face difficulty in transferring ownership of physical assets. Bitcoin, on the other hand, can be easily transferred in a trustless, secure , and cost-effective manner. Interested persons can also easily hold Bitcoin (BTC) without having to bother about high maintenance costs, etc. This important features makes Bitcoin an better alternative to physical property, especially for commoners looking for a way to retain control of their finances.
Speaking during the convention Micheal Saylor disclosed that Bitcoin enjoys a universality that real estate and gold do not enjoy. Adding that traditional assets like gold and other precious metals are difficult to move seamlessly across geographical borders. Also, a property in Africa will have almost no attraction point for someone living in the United Kingdom.
However, having a million dollars worth of Bitcoin can be spent easily and seamlessly across geographical borders. Adding that, with a “[…] billion dollars of Bitcoin, you can loan it or […] rent to anybody in the world.”
“[…] property that you can acquire in small pieces that you can carry with you anywhere you go. You can give to your children’s children’s children’s children. And in 250 years, maybe your family still owns the property.”
Saylor further described Bitcoin.
He added that only Royalties like the recently instated King Charles III enjoy the priviledge of passing down generational wealth without having to bother about taxes. Bitcoin, however, provides commoners with this same benefit.
In conclusion, while most critics point out the issue of scams and hacks in the crypto space, the Bitcoin network currently boast of being “the most secure network in the world.” Reguar updates will also help to further secure and improve scalability on the network.
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