Michael Saylor refutes views against buying Bitcoin
U.Today
1h ago
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In a post released today, Executive Chairman Michael Saylor of Strategy refuted a popular viewpoint against buying Bitcoin. He made an analogy between Bitcoin and the English language, arguing that just because "anyone can create a new language" does not mean that English has no value. Similarly, the fact that anyone can create a cryptocurrency does not mean that Bitcoin loses its long-term value.
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Strategy Executive Chairman Michael Saylor refuted a viral opinion published today regarding the purchase of Bitcoin.

Saylor has always been known for his continuous defense of Bitcoin, and this post has further sparked discussion within the crypto community, with most users supporting his views.

Michael Seller proposed an English analogy.

In his statement, Saylor challenged this claim by comparing Bitcoin, the world's largest cryptocurrency measured by market capitalization, with the English language.

This view holds that there is no need to buy Bitcoin, as it has similar characteristics to many other cryptographic assets that can be created by anyone.

In response, Saylor argued that since anyone can create a cryptocurrency, Bitcoin is not worth buying. This is equivalent to saying there is no reason to learn English, since anyone could invent a new language.

Saylor's response to the growing criticism also sparked discussions among commentators; they proposed another analogy to defend the uniqueness of Bitcoin compared to other cryptocurrencies that are easier to create.

Saylor emphasizes the value of Bitcoin compared to other crypto assets

Although Saylor's defense of Bitcoin was relatively brief, this analogy has given people a better understanding of this leading cryptocurrency.

It is worth noting that this analogy highlights the difference between "the ability to create substitutes" and "the value that a mature system can provide," just as Bitcoin and the English language demonstrate.

While it is true that developers can launch new cryptocurrencies, Saylor's argument is that the mere existence of these alternatives does not erase Bitcoin's long-established value, nor does it necessarily mean they can surpass it.

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