Bitcoin Bull Michael Saylor Says Bitcoin Is a Commodity

MicroStrategy CEO Michael Saylor, who has been one of Bitcoin’s most vocal advocates in recent months, is helping to take the cryptocurrency mainstream. The Bitcoin bullshared a video to his 2.5 million Twitter followers, adding that Bitcoin is essential as a treasury reserve asset, which will allow governments and institutions to support it as a digital asset to grow the economy.

Earlier this week, Saylor tweeted that Bitcoin is 100x bigger than the next best digital commodity network and utterly unique. Saylor’s views on Bitcoin come after SEC Chair Gary Gensler affirmed BTC’s commodity status.

Gensler said he saw many crypto assets having attributes of a security, adding that Bitcoin is the only crypto he was comfortable publicly labeling as a commodity. A series of reactions by the community led to a recognition that Gensler’s comments were actually bullish for Bitcoin.

In the video, Saylor says that Bitcoin is a commodity, which is essential for any treasury reserve asset. This allows politicians, agencies, governments, and institutions to support Bitcoin as a technology that can grow the economy and extend property rights and freedom to all.

Saylor says that cryptocurrency is still in its early stages, but he believes it has the potential to become one of the most important inventions of our lifetime.

Saylor has been one of Bitcoin’s most vocal advocates in recent months, and his company MicroStrategy has turned itself into a BTC powerhouse, with a recent announcement of plans to acquire more Bitcoin. Saylor is helping to take Bitcoin mainstream, and his views on the cryptocurrency are sure to have a major impact on its future.