CandleFocus Bitcoin Standard Author Challenges Michael Saylor: Should Banks Offer Yield On Your BTC?
2024-09-19
Author: Content Editor
The news content highlights a disagreement between Michael Saylor, executive chairman of MicroStrategy, and Saifedean Ammous, author of "The Bitcoin Standard," regarding whether banks can provide sustainable yield on BTC deposits. Saylor believes that Bitcoin could generate a return for its holders through digital banking services, while Saifedean argues that sustainable yield is not possible with a fixed supply asset like BTC. Saylor suggests that mainstream banks with responsible management could offer Bitcoin yield, backed by the US government, without customers needing to sell their BTC. Saifedean remains skeptical, stating that this model would require a lender of last resort. The article also mentions the previous collapse of companies like BlockFi and Celsius that offered Bitcoin yield using lending and borrowing strategies.
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