The largest bitcoin owner considers the flagship cryptocurrency to be better than physical property

Michael Say lor, the founder of cryptocurrency company MicroStrategy, continues to be shocking on the topic of bitcoin. During the Australia Crypto Convention event, speaking about the basic proof-of-work (PoW) consensus mechanism, Saylor said: «If you own a property in Africa, no one is going to want to rent it from you if people live in London. But if you have a billion dollars in bitcoins, you can lend it or rent it to anyone in the world.»

Saylor emphasized the high maintenance costs and taxes associated with real estate ownership. The MicroStrategy CEO noted that such problems would not arise in the case of owning virtual bitcoins. He explained:

«Bitcoin is a property that you can buy in small pieces and that you can carry with you anywhere. You can give them to your children or grandchildren. And in 250 years, your family may still own this property.»

According to Saylor, only individuals such as King Charles III have the right to transfer their wealth without worrying about taxation, «unless it’s bitcoin.» The entrepreneur emphasized that the bitcoin network has not been hacked for more than 13 years and is currently «the most secure network in the world.»

Last week, MicroStrategy filed an application to sell half a billion dollars worth of shares with the US Securities and Exchange Commission (SEC). The company will use the proceeds from the sale of shares to buy more BTC. MicroStrategy is the largest institutional investor in bitcoin with more than 129,000 BTC under its belt. Just a month after the company’s CEO Michael Saylor resigned and a week after the Washington Attorney General sued the company and Saylor for tax evasion, the company moved to buy more BTC.