Michael Saylor reveals the true value of Bitcoin amid record inflation
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Answer Michael Saylor reveals the true value of Bitcoin amid record inflation
Currently, most of the debates and discussions in the financial markets revolve around one topic, which is the topic of “inflation”.
And that’s after a record inflation rate was recorded in the United States of America, which reached an all-time high and led to another round of sales in many assets.
Michael Saylor, CEO of MicroStrategy, is a crypto enthusiast who is famous for his love of Bitcoin and his crazy investment in it.
Saylor did not leave the hot topic of “inflation” without a comment reminding the value of bitcoin.
According to Saylor, with the US inflation rate at a record high of 9.1% and other major global reserve currencies depreciating more rapidly against the US dollar, many people still don’t realize that the value of Bitcoin remains stable at 1 BTC = 1 BTC.
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Saylor explained his different point of view that he does not peg the rate of cryptocurrencies to fiat currencies, and despite the strong pressure of macroeconomic statistics on Bitcoin quotations, its true value remains constant.
Currently, losses in “MicroStategy” fiat currencies from Bitcoin holdings exceed $1 billion.
As of June 28, MicroStategy owned 129,699 bitcoins, worth nearly $4 billion and bought bitcoin at an average price of $30,664 per 1 bitcoin.
MicroStategy’s recent documented bitcoin purchases totaled 480 bitcoins, valued at $10 million.
Recession coming?
The US consumer price inflation showed an increase as the index reached a rate of 9.1% in the twelve months ending in June, the largest increase in 12 months since November 1981.
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Meanwhile, the markets were expecting a figure of 8.8% to beat expectations and cause a very negative reaction in most financial markets at the moment.
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