Michael Saylor Says Anyone Can Issue Crypto Without Erasing Bitcoin's Value

Strategy founder Michael Saylor argued Tuesday that the ability to create other cryptocurrencies does not eliminate a reason to buy Bitcoin, using a language analogy to defend the asset's value.

In an Oct. 27 post, Saylor compared the view that creating new cryptocurrencies removes the case for Bitcoin with the claim that inventing a language would make learning English pointless. His analogy presents the existence of alternatives as insufficient, on its own, to settle whether Bitcoin has value.

Saylor has also discussed Bitcoin's possible role in digital credit, lending and broader capital systems as part of a future financial system, in an earlier discussion of Bitcoin's role in finance.