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Michael Saylor calls Bitcoin the world reserve currency



Bitcoin remains the leading cryptocurrency, but some people feel that it is not a great payment option.

Michael Saylor, the billionaire CEO and founder of business intelligence company MicroStrategy, believes Bitcoin is the best currency reserve in the world. However, he does not think that it is an excellent means of paying for goods and services.

He said this in a recent interview with CoinDesk TV. There has been a heated debate over the best use case for Bitcoin. Many have argued that its best function is as a store of value, while others believe it is a currency. Saylor belongs to the latter group. He said:

“You don't want to pay for your coffee with your Bitcoin, you want to pay for your coffee with a currency. There will be volatility, but it seems to me that we have now generally recognized that the world needs inflation protection. So if you have Bitcoin, don't sell it. "

According to the CEO of MicroStrategy, Bitcoin is the world's reserve asset, while the US dollar is the best reserve currency in the world. Saylor stated that it would be easier for financial regulators to view Bitcoin as an asset rather than a currency. He added:

"All of these regulations ... they are really regulations that restrict your use of a digital asset as currency rather than property."

MicroStrategy is perhaps the most optimistic cryptocurrency company in the world. The company has bought more than $ 3.5 billion worth of bitcoins in the past few months. MicroStrategy's bitcoin holdings are now nearly $ 7 billion, but the company has no plans to sell its BTC stash anytime soon.

Bitcoin has underperformed in the past few weeks. The price of the leading cryptocurrency is down more than 20% from the all-time high it hit early last month. At the time of writing, BTC is trading just above the $ 55,000 mark.

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