- Michael Saylor reframed Bitcoin‘s volatility as a feature that enables new financial systems, calling it “digital capital.”
- The co-founder stated Bitcoin can be two to four times more volatile than traditional assets like Gold, but also two to four times more performant.
- While Saylor spoke, MicroStrategy shares fell nearly 5% in pre-market trading, and Bitcoin’s price hovered around $68,600.
On Tuesday, MicroStrategy co-founder Michael Saylor addressed concerns about Bitcoin’s price swings during an interview with CNBC. He argued that this volatility is a core feature, not a flaw, for what he terms “digital capital.”
“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. He clarified that this performance comes with increased fluctuation compared to traditional assets.
Consequently, he noted Bitcoin can be up to four times as volatile as gold, equities, or real estate. However, he was quick to point out it has also been two to four times as performant as those other asset classes.
Meanwhile, MicroStrategy shares were down nearly 5% in Tuesday’s pre-market trade. Retail sentiment around the company was reportedly neutral at the time of writing.
Bitcoin prices were hovering around $68,600, down 0.7% over the prior 24 hours. For updates to this story, you can follow it developing directly on Stocktwits.
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