KEY POINTS
- Most crypto users on X agreed with Saylor about fiat money 'dying' in the future
- One user noted that there should be balance between recognizing history and embracing innovation
- Saylor has been a Bitcoin maximalist for the longest time, even during price lows
Michael Saylor, founder and executive chairman of software company MicroStrategy, continues to be positive about the possibilities ahead for Bitcoin, even as the world's largest cryptocurrency by market cap has already fallen from its $73,000 all-time high last month.
"In time, everything before Satoshi [Nakamoto] will be viewed as BS," he wrote on X (formerly Twitter) early Thursday. His post came as Bitcoin prices stick at around $65,000 and $66,000 – a significant slump from when the digital currency passed the $73,000 mark last month to record a new all-time high.
In time, everything before Satoshi will be viewed as BS.
— Michael Saylor⚡️ (@saylor) April 3, 2024
Satoshi Nakamoto is the pseudonymous person or persons who developed Bitcoin and authored the digital coin's original whitepaper.
The crypto community on X immediately took to the comments section of Saylor's post, agreeing with his stance and dropping their own thoughts about fiat money and its future now that cryptocurrency use is becoming more widespread.
User @FiatHawk said the children of the future will have a hard time understanding how the previous generation could live "in a world where a few elite bankers had a money printer and could print money by the trillions." He added that fiat money "is dying" and it could be the best for humanity.
Blockchain and BTC community Satoshi Club said, "fiat is the ultimate bs."
Fiat is the ultimate bs
— Satoshi Club (@esatoshiclub) April 3, 2024
Some entities and figures in the Bitcoin community also commented on Saylor's post, with digital solutions firm Vandelay Industries noting that before Nakamoto created Bitcoin, "nothing was truly yours."
Before #Bitcoin, nothing was truly yours. pic.twitter.com/5kmq8dioQv
— Vandelay ₿TC Industries ⚡ (@VandelayBTC) April 3, 2024
Non-custodial exchange RichQuack said Nakamoto's impact on the world of finance is "unparalleled."
Absolutely! Satoshi's impact is unparalleled.
— RichQuack (@RichQuack) April 3, 2024
Crypto enthusiast Muhmmad Azhar had a more neutral stance on the matter, saying Bitcoiners should still remember that "progress often builds on what came before." He noted that a more "sustainable" way of thinking would be a balanced view of history and innovation.
While its tempting to see past ideas as outdated, lets remember that progress often builds on what came before. Striking a balance between honoring history and embracing innovation can lead to a more sustainable path forward.
— Muhmmad Azhar (@AzharTheGreat) April 3, 2024
Saylor is a known Bitcoin maximalist, retaining a bullish stance on the coin even during price lows. His company has also been amassing Bitcoin for years, now holding over 214,000 BTC and becoming the largest known corporate holder of the world's first decentralized cryptocurrency.
During the Abundance360 Summit last month, Saylor even suggested that investors look into Bitcoin investments instead of betting on MicroStrategy. "I expect Bitcoin will be here a thousand years from now. MicroStrategy won't be; I won't be," he said.
Meanwhile, the MicroStrategy stock saw a slump of 14% last week after short seller Kerrisdale Capital said Saylor's company "trades at an unjustifiable premium to the digital asset that drives its value."
