Bitcoin is a good investment because it is like digital gold, and it is better than physical property for commoners, says Michael Saylor.Image Credit: Google
Saylor is the CEO of software company MicroStrategy, which has invested heavily in Bitcoin.Image Credit: Google
In an interview with Bloomberg, Saylor said that Bitcoin was a better store of value than physical property because it was more portable, divisible, and scarce.Image Credit: Google
"It's way more portable, it's way more divisible, it's way more scarce," said Saylor.Image Credit: Google
"And so if you want to own a piece of property, you have to go through all kinds of intermediaries."Image Credit: Google
He added that Bitcoin was also a better store of value than gold, because it was more durable and more difficult to steal.Image Credit: Google
"Gold is very hard to transport, it's very hard to divide, and if you have a lot of gold, somebody could come and just take it from you," said Saylor.Image Credit: Google
Saylor's comments come as Bitcoin's price has surged to new all-time highs.Image Credit: Google
The cryptocurrency is currently trading at around $34,000, up from around $20,000 at the start of the year.
Bitcoin's price has been boosted by increasing institutional interest in cryptocurrency.