Michael Saylor, the founder of MicroStrategy, the company that holds the most Bitcoin today, gave an example to Turkey in an interview. Saylor announced that if Turkey buys 5 billion dollars worth of Bitcoin today, it will have 50 billion dollars in 5 years.
Continuing to rise rapidly in recent days, Bitcoin reached its closest level to $64,854, an all-time high, on October 15. Bitcoin excited its investors by seeing 62 thousand 933. The biggest name of the cryptocurrency exchange is currently circulating at the level of 61 thousand.
Bitcoin, of course, is not on the agenda only with its recent rise. Bitcoin continues to stay on the agenda with investments made at the same time. So much so that the cryptocurrency became the official currency of a country for the first time (El Salvador). Although El Salvador has faced many positive and negative comments with this decision, it certainly sees the contribution of its investment these days.
Turkey also received a proposal to buy Bitcoin:
https://www.youtube.com/watch?v=jG1T_ThOEPw
While we are wondering about El Salvador’s profit from Bitcoin these days MicroStrategy founder Michael Saylor, made a Bitcoin proposal to Turkey in an interview he participated in. The founder of the company, which owns more than 110 thousand Bitcoins, gave an example from Turkey while talking about the importance of Bitcoin and what it has brought to the world. Michael Saylor’s words began as follows:
“If I said I could move the whole of San Francisco anywhere in the universe in 130 milliseconds, you’d think that was pretty cool. But if I said, ‘I can only do 7 transactions per second, VISA is fast,’ you’d say it’s garbage. It’s about what you’re carrying. When you think about it, you see: the payment network. is the network on which you build the 21st century economy. The application layer is PayPal, Google and Apple Pay, Amazon Pay, Fidelity, your life insurance and ETF. Let’s say New York City buys $10 million in Bitcoin for the benefit of everyone in the city, taxing it completely forever eliminating it. This is a derivative (a financial instrument whose value is directly linked to the value of another financial asset or property). They can do that.”
- Saylor, right after these words, on the same example He said the following about Turkey:
“Turkey to the treasury of the Central Bank Can buy $5 billion worth of Bitcoin and this, Turns into $50 billion in the next 5 years. So they can strengthen their currency and 50 million people in Turkey, Turkish Lira, which will be a derivative of Bitcoin will have.
So how can you scale this (Bitcoin)? A lot of people think it should be scaled at the base layer, they are totally uninformed. We don’t need to scale it at the base layer. You want to fix your country like Nigeria or Zimbabwe, What you would do to fix your country is to buy $2 – $3 billion worth of Bitcoin and put your currency back in circulation to buy Bitcoin. This is the ‘Bitcoin standard’. In this way, each of your citizens will be spared from starvation and begin to live a decent life. I think you’ll see that everywhere, and it’s a race. Who determines those at the top? It is Bitcoin.”
What do you guys think about the idea that Michael Saylor should buy Bitcoin to fix a country? Do not forget to mention your ideas in the comments section.