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HomeCrypto NewsMarketMichael Saylor Says Bitcoin Will Reimburse Investors “Robbed By Inflation”

Michael Saylor Says Bitcoin Will Reimburse Investors “Robbed By Inflation”

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Michael Saylor Says Bitcoin Will Reimburse Investors “Robbed By Inflation”



Michael Saylor, the CEO of leading business intelligence and software company MicroStrategy, is always eager to promote the widespread adoption of Bitcoin (BTC) at every opportunity he gets. 

The popular Bitcoin proponent is at it again, as he has urged his Twitter followers who “feel robbed by inflation” to adopt the world’s largest cryptocurrency by market capitalization as a way to recover their losses. 

If you feel robbed by inflation, #bitcoin will give you your money back,” Saylor said in a tweet today. 

 

Bitcoin Considered As Inflation Hedge

Since the peak of the coronavirus pandemic in early 2020 that had a negative impact on world economies, Bitcoin has been considered a hedge against inflation. 

The United States inflation rate has continued to surge tremendously amid measures by the Federal Reserve to mitigate the hike in the prices of goods and services.
As of February 2022, the U.S. inflation rate has soared by 7.9% compared to what was recorded in February 2021.

Countries like the United States were forced to provide relief funds for their residents in a bid to reduce the impact of the pandemic on their economies. 

Although commendable to an extent, the initiative raised the global inflation rate. People who held fiat at the time saw the value of their wealth depreciate following the massive printing of banknotes, which was done to reduce the effect of the pandemic.  

These actions prompted many to consider Bitcoin as an inflation hedge because it has a fixed supply and its value will continue to soar as adoption increases.  

Saylor’s Contribution to Institutional Investors’ BTC Adoption

Saylor is one of the proponents who contributed to the growing adoption of Bitcoin by institutional and corporate investors, seeking solace from rising inflation. 

Following MicroStrategy’s BTC purchasing spree that started in August 2020, many firms were left with no choice but to buy the world’s largest cryptocurrency, as they fear that global inflation will continue to rise. 

MicroStrategy Bitcoin Holdings

As of February 1, 2022, MicroStrategy holds a whopping 125,051 BTC, bought at an aggregate price of $3.78 billion. 

At press time, the value of MicroStrategy BTC holdings is worth $5.6 billion. Saylor believes his decision to opt for Bitcoin instead of gold was one of the best moves he has taken. 

According to the MicroStrategy CEO, it would have been a multi-billion mistake if he had chosen gold over Bitcoin. 

 

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Ammara
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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