MicroStrategy president and former CEO Michael Saylor praised the properties of Bitcoin (BTC) and described the flagship cryptocurrency as a channel towards freedom.
Saylor, a prominent crypto advocate, has equated Bitcoin to a union that should only strengthen further due to projected capital inflows in the future.
“As the money moves into the network, the monetary union gets more powerful. Everybody that joins the network has that much more power. Your only hope against the oppressive force of the collective is to unionize your own activities and organize your activities with people of like ideology that believe as you believe, more money, more people, more power,” Saylor said.
He added:
“Bitcoin is an economic machine based on a truth machine poised to emerge as a freedom machine.”
Bitcoin’s unique features
Saylor, who spearheaded MicroStrategy’s Bitcoin hoarding in August 2020, noted that despite the existence of many digital assets, the first cryptocurrency stands out because of its unique characteristics.
“There’s 20,000 cryptos. There’s one that’s 95% dominant, which is ethically sound, technically sound, and economically sound. Bitcoin is reared in metal. It’s the hardest substance in the universe. Most people don’t know it. Most people are afraid of it,” he added.
He noted that there have been calls for years to separate the economy from the state, but it lacks the technology to accomplish the task.
Bitcoin and ‘economic slavery’
The executive noted that the onset of the pandemic has forced more people to realize that they need a solution to the current ‘economic slavery’. According to Saylor:
“In March of 2020, the world came to a grinding halt. Suddenly billions of people woke up to the prospect of an economic collapse, losing faith in their institutions and the governments on.<…>We saw an escape from economic slavery in the form of what we thought was digital gold.”
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It is worth noting that MicroStrategy is among the leading institutions to bet on Bitcoin for the first time. The last purchase took place between August and September, with an additional 301 Bitcoins purchased at an average price of $19,851 per coin.
