Microstrategy Founder Michael Saylor to Argentines: ‘You Need Bitcoin’ — Critics Insist BTC Is Too Volatile
Micheal Saylor, the founder of Microstrategy, has told people living in inflation-stricken Argentina that they now “need bitcoin.” While many bitcoiners have welcomed Saylor’s suggestion, a few critics have said the top crypto asset’s volatility makes it an unsuitable alternative for the faltering local currency. The Dollarization Option As the Argentinian currency — the peso — continued with the slide that has seen it depreciate by more than 40% over the past twelve months, Micheal Saylor, the founder of Microstrategy, has chimed in by tweeting that people living in the South American country now “need bitcoin.” In a subsequent tweet , Saylor, a bitcoin critic turned advocate, also shared news about the South American country’s inflation rate after it topped 7.58% per day. If you live in Argentina🇦🇷 right now, you need #bitcoin . — Michael Saylor⚡️ (@saylor) April 22, 2023 The tweets by Saylor, whose firm is one of the largest corporate holders of BTC , came as reports sug