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MicroStrategy ex-CEO predicts bitcoin might act as store of value not just medium of exchange

Michael Saylor, ex-CEO of MicroStrategy on September 3, made some huge comments regarding Bitcoin at Baltic Honeybadger 2022, the biggest European Bitcoin-only conference.

Michael said although the Dollar will remain in use for the short term but for the long term, people would have to be dependent on Bitcoin.

In the future, Bitcoin will act more as a store of value than as a medium of exchange, ex-CEO stated in the Bitcoin-only event. These remarks gain extreme importance as they come from the most significant backer of Bitcoin.

BTC acts as a property right for 8 billion individuals. Moreover, Non-custodial wallets permit customers to utilise BTC alongside stablecoins, which is the need of the hour, Billionaire said. 

Saylor also commented it could be tough work to explain the Bitcoin background to an enormous number of people. Saylor’s comments at the conference could be taken to further grow crypto adoption in Europe.

CEO said non-custodial dollars could expand over the lightning network. Lightning is the most significant thing happening in the technology sector. All the upcoming innovative development in technology will be based on Lightning.

Michael said, “if trying to explain to 100 million people why BTC, it is tough work. The Dollar will spread virally over the lightning network non-custodial.”

In less than 4 years, the worldwide demand for USD would increase. However, people would still require BTC in the long term. Michael explained, “It would be Bitcoin as a store of value with the Dollar acting as a medium of exchange for the short to medium term.”

Moreover, Saylor clearly stated that the educational content via social media would drive the crypto adoption growth and not the books. “What spreads is TikTok, YouTube and Video. Short duration videos are enlightening.”

As of late, Michael Saylor has left the role of MicroStrategy CEO. The action was focused on Saylor’s shift to digital currencies. The billionaire in the past on several occasions expressed extraordinary confidence in Bitcoin’s future potential. Saylor even claimed that within a span of a few years BTC can cross the $1 million mark. 

At the time of writing BTC is trading around $19,811 down 2.4% in the last 24 hours, as per the CoinMarketCap data.

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