Bitcoin bull and the CEO of enterprise analytics software firm MicroStrategy, Michael Saylor, is lnaming the three main components that he believes comprise the crypto ecosystem.
In an interview with CNBC, Saylor lists ‘digital property’ as the first component of the cryptocurrency universe. While likening Bitcoin to precious real estate in the New York City borough of Manhattan, the MicroStrategy CEO says Bitcoin is the most dominant digital property.
“Let’s talk about the crypto universe… You’ve got digital property and Bitcoin is the highest, most dominant digital property network. Think of it as granite blocks in Manhattan, in cyber Manhattan…
So Bitcoin is meant to last forever. High integrity, very durable.”
The second component of the crypto universe, according to the MicroStrategy CEO is ‘digital currency.’ The largest stablecoin by market cap, Tether (USDT), and central bank digital currencies (CBDCs) fall under this category.
“Then you have got digital currency. That’s like Tether and stablecoins. They want to be money markets in cyberspace. And so they will be like the CBDC dollars.”
Per the Bitcoin bull, digital applications are the third component of the crypto universe. Saylor points out that the Ethereum smart contract blockchain, which falls under digital applications, poses a threat to traditional financial institutions.
“Then you have got digital applications like Ethereum. Ethereum wants to dematerialize the JP Morgan building and banking establishment and all of the exchanges.”
Saylor points out that as the crypto market matures, the three main components will all have different roles to play and a reason to co-exist.
“I think as the market starts to understand these things there’s a place for everybody.”
lCheck Price Action
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Rustic