Now, he addressed the king coin once again, and he dropped a blog post in which the author explains all the reasons for which BTC is not a Ponzi Scheme.
Check out his tweet below:
— Michael Saylor (@michael_saylor) January 16, 2021
“One of the concerns I’ve seen aimed at Bitcoin is the claim that it’s a Ponzi scheme. The argument suggests that because the Bitcoin network is continually reliant on new people buying in, that eventually it will collapse in price as new buyers are exhausted,” the article begins.
The article continues and defines a Ponzi Scheme according to the SEC’s notes. We strongly suggest that you check out the complete blog post.
Bitcoin is an institutional-grade safe-haven asset
#Bitcoin is emerging in 2021 as the new, compelling institutional grade safe haven asset. Excess cash is a drag on shareholder value in the current monetary environment, so we can expect more firms to adopt Bitcoin as a treasury reserve asset.https://t.co/v3U697RpHv
— Michael Saylor (@michael_saylor) January 15, 2021