Bitcoin (BTC) billionaire Michael Saylor, co-founder of MicroStrategy, gives three reasons why as a bitcoin owner you should not be afraid of the interference of large institutions in the crypto market. On the podcast Coin Stories hostess Nathalie Brunell asks Saylor how he views the arrival of large companies like BlackRock to the bitcoin market.
Saylor emphasizes that the participation of third parties and companies in the market is inevitable. He states that we should be prepared for everyone to use bitcoin, but not be afraid of the different ways people and companies want to integrate bitcoin.
Bitcoin adoption by society
During a recent interview Brunell reports that bitcoin fans are not at all excited about the arrival of large institutions. They prefer to see the digital currency decentralized and in the hands of many private users.
Brunell says many bitcoin owners have lost faith in the big Wall Street firms because they believe these firms contributed to the erosion of the American worker. Saylor says that the social acceptance of bitcoin will provide many user benefits.
The three main reasons
Saylor gives three reasons why bitcoin owners should not be afraid of the interference of large institutions. On a political level, major entities such as cities and countries will likely want to include bitcoin in their treasuries. This requires a kind of shared or custodial responsibility, which is a natural evolution and not a centralization.
“The mayor of New York is still the mayor of New York. Unless you get rid of New York City, California or Iceland, political reasons will mean the need for custodians.”
From a technical perspective, there will be several layers of solutions. The Lightning Network will allow for fast transactions, while custodial platforms such as Apple or JPMorgan will allow for broader integration. These technical integrations improve the functionality and accessibility of bitcoin.
On a human level, there are situations where individuals, due to age or health, need a trusted third party to manage their bitcoin. This shows bitcoin’s flexibility and versatility in meeting diverse human needs.
Bitcoin owned by MicroStrategy
The American software company MicroStrategy is one of the largest listed bitcoin holders and bought more than $ 340 million worth of BTC earlier this year under Saylor’s leadership. With this purchase, the total holdings at the time amounted to 152,333 BTC with an estimated value of approximately $4.5 billion.
2023-08-14 11:02:55
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