Michael Saylor, the co-founder and the CEO of MicroStrategy delivered his ideas and views on the value of crypto in the wake of FTX’s fall, in an interview hosted by Natalie Brunnel at the podcast show Coin Stories with Natalie Brunnel.
Brunnel began the interview with a question on the biggest lesson of the FTX crash for which Saylor answered that the previous week that witnessed the major fall of FTX indicated the “virtues of Bitcoin and the vices of crypto”.
He added that it is “an incredibly expensive lesson” and “basic fundamentals of monetary theory and banking” that the money under the control of human beings cannot be trusted as a whole. He added that Bitcoin, being a decentralized coin, without the interference of any third parties can be trusted more than any fiat currency.
Afterward, the discussion went on about the resignation and the apology of Sam Bankman-Fried, the former CEO of FTX. Saylor commented that no man can take up all the billions of people’s financial burdens; so it is better to leave it to the laws of nature and mathematics. He added that trustworthy, rational software could be more responsible to keep all the records than a human being.
Furthermore, he talked about the benefits of cryptos, especially Bitcoins. He opined that Bitcoin is still the most dominant crypto coin in terms of the number of holders and value. In addition, the accessibility, the value as an asset, and the easiness of transactions make all cryptos more credible than fiat currencies.
While talking about the FTX crisis, Saylor commented that the traders went panicky mostly because of the slow response of the regulators.
In addition, Saylor talked about risk management commenting that it is safer to take loans with a mortgage:
Finally, he concluded his words with a message to Elon Musk, mentioning that Twitter is the most “underappreciated digital network” though it is the global network for public speech. He added that Twitter needs to be monitored for making it the most trustworthy speech platform.
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Source: Cryptocurrency - investing.com
