‘There’s Awful Lot of People That Need Bitcoin,’ Says Michael Saylor By CoinEdition – Investing.com

Michael Saylor, the former CEO of MicroStrategy and long-time admirer of Bitcoin, recently took to Twitter (NYSE:) to once again convey his unshakable faith in the cryptocurrency, stating that he believes there are a significant number of individuals all over the globe that need Bitcoin.

Saylor has been tweeting constantly about his strong trust in Bitcoin since the Merge, which saw the second biggest cryptocurrency transition from a proof-of-work consensus mechanism to a proof-of-stake one.

In one of his tweets, the MicroStrategy chair said, There is no other alternative to Bitcoin. This was barely a few hours after the Merge. He has also said that Bitcoin is a digital currency that acts as a railway for the transfer of money across both time and place.

Saylor also boasted on Twitter that MicroStrategys share price had increased by 67% since the firm began using the Bitcoin Standard, even though many other shares have seen either significant drops or flat growth this year.

The Bitcoin advocate has already said, in a previous video posted on September 17 while attending a conference in Australia, that the king crypto is becoming stronger following the Ethereum Merge. Saylor believes that proof-of-work is the only mechanism that is successful in the production of digital commodities.

Saylor thinks that the Bitcoin blockchain is the cleanest and most efficient use of power in the industry. The firm has recently revealed plans to sell $500 million in MSTR shares to increase its holdings of bitcoin. At the moment, Microstrategy (NASDAQ:) has 129,699 bitcoins in its possession.

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