Michael Saylor Calls Bitcoin Volatility Both A Bug And A Feature, Touts It As ‘Digital Capital’: Report
Synopsis
The Strategy co-founder called Bitcoin ‘digital capital’, and said that it can be up to two to four times as volatile as traditional capital, such as gold, equities, or real estate.
Strategy Inc. (MSTR) co-founder and Executive Chairman Michael Saylor reportedly played down Bitcoin's volatility on Tuesday.
“Volatility is the bug, but the volatility is the feature, and we believe that digital capital, because it’s so much more performant, is the base for an entirely new financial instrument that we call digital credit,” Saylor said during an interview with CNBC.
The Strategy co-founder also called Bitcoin ‘digital capital,’ and said that it can be up to two to four times as volatile as traditional capital, such as gold, equities, or real estate. However, he said Bitcoin has been two to four times as performant as those other assets.
Strategy shares were down nearly 5% in Tuesday’s pre-market trade. Retail sentiment around the company trended in the ‘neutral’ territory at the time of writing.
Bitcoin prices were hovering around $68,600 at the time of writing, down 0.7% over the last 24 hours.
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