Bitcoin’s Mission and Importance Tweeted by Michael Saylor via CoinEdition

© Reuters. Michael Saylor tweets about the mission and importance of Bitcoin
  • Michael Saylor, founder of MicroStrategy, shared a recent clip from the FOX Business podcast.
  • Saylor tweeted that the mission has never been more important.
  • The tweet comes amid the downfall of FTX and people diverting their money into self-custody.

Michael Saylor, Founder and CEO of MicroStrategy, mentioned in a recent tweet that Bitcoin’s mission is of paramount importance right now. Share a podcast clip on FOX Business about the recent disaster and other topics in the crypto world.

The conversation between media personality Natalie Brunel and FOX Business host Charles Payne takes users through what Bitcoin is for and why it matters now.

Speaking about the current events, Brunel stated the following:

“And my reaction to all of this is really to lock them up, I just don’t mean SBF, I also mean lock up your coins.”

Brunel explained that bitcoin’s value proposition and self-preservation have never been more important. She also noted that people are turning to self-incubation in droves. However, Brunel has also expressed its complaints about FTX, stating that it is fraudulent and should never have happened.

Speaking on the general topic of credit, Brunel stated that Bitcoin is not credit. She added that BTC has no counterparty risk and can be safely held in self-custody without an issuer.

On the other hand, Bain is impressed with the way Bitcoin is holding up in this mess. Brunel replied that nothing has changed the fundamentals of Bitcoin and that people are taking BTC from exchanges, hash rates are high, people are opening and holding wallet addresses.

Brunel concluded that this chain of events illustrates the importance of why Bitcoin was invented and why we need an asset that does not need a trusted third party.

Michael Saylor’s post about Bitcoin’s mission and importance appeared first in Coin Edition.

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