Michael Silver says cryptocurrencies like Bitcoin are the best investment method because money is dying.
While the global economy continues to recover from the situation before the Corona epidemic, the concern about the effects of inflation on people’s lives has been on the rise. As a result of this situation, governments and central banks worldwide have been under pressure to raise interest rates to curb inflation and maintain economic stability.
Michael Silver, the co-founder of MicroStrategy, talks about Bitcoin, economic inflation, Ordinal Inscriptions and the future of money in a new interview. This American billionaire claimed that the recent currency failures show that “money is dying.” Silver says this also applies to the US dollar, considered the world’s strongest currency.
Among his remarks, Michael Silver pointed to the consumer price index, which shows that the annual US inflation rate is 4.9 per cent. According to Silver, the monetary inflation of the US dollar is much higher than five dollars because “the consumer price index is the lowest inflation number certified by the government, not the highest.”
According to Michael Silver, the monetary inflation of weaker currencies is higher than the dollar, and its range is from 20% to 100%. Governments worldwide are struggling with a crisis of confidence in money and banks. As a result of this situation, consumers also distrust fiat currencies over time.
“So, money is dying,” says Michael Silver. “Money is dying in Venezuela and Argentina, and this situation can be seen in other parts of the world, even in the United States and Western Europe.”
Silver believes that commodity assets are also losing their influence in addition to fiat currencies. He mentioned people’s high costs to move items such as gold, oil, property, securities, and even painting.
Silver considers Bitcoin a “real commodity” because it is digital and rare. Bitcoin allows traders to move millions of dollars anywhere in the world.