According to Michael Saylor, the ongoing banking crisis is driving smart money towards Bitcoin as a safe haven. The loss of confidence in traditional currencies and banks is making commodity monies like gold and Bitcoin more appealing. Saylor explains that when individuals and institutions lose confidence in fiat currencies and banks, they begin considering alternative forms of money known as commodity monies. Bitcoin stands out as a superior form of commodity money when compared to traditional options like gold due to its digital nature, portability, scalability, and scarcity. As the world experiences the challenges of the current financial system, Bitcoin’s position as the apex commodity money continues to strengthen, attracting the attention of individuals and institutions alike.
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