🌐 Saylor and Ammous' Bitcoin Yield Discussion: Can Banks Provide Stable Returns on Crypto Assets?
In the world of cryptocurrency, a heated debate is taking place about Bitcoin yields.
MicroStrategy's Executive Chairman Michael Saylor and Saifedean Ammous, author of The Bitcoin Standard, debated whether banks should offer yields on Bitcoin deposits.
Saylor believes that if big banks like JPMorgan Chase stepped in, they could offer clients stable Bitcoin yields. He said that through digital banking services, Bitcoin holders could earn returns without selling their assets. Saylor even predicted that such banks could offer "risk-free" returns of up to 5%.
However, Ammous is skeptical. He believes that it is impossible for a fixed supply asset like Bitcoin to achieve long-term sustainable returns. He pointed out that companies like BlockFi and Celsius, while offering attractive returns, ultimately collapsed due to poor management.
Ammous also mentioned the concept of "lender of last resort," the ability of central banks to rescue bankrupt banks in times of crisis. He believes that without this support, the Bitcoin yield model provided by banks is not viable.
In response, Saylor said that big banks have government support behind them, and they will not fall easily unless the government itself collapses. He also emphasized that Bitcoin will become a "bad" asset if it cannot generate income.
Saylor also said that we need a well-functioning banking system to mobilize capital. He also asked in return, why should you feel guilty or uneasy about getting a return on capital?
This debate touches on the core issue at the intersection of cryptocurrency and traditional finance. That is, should banks intervene in the Bitcoin income market? Can they provide income without increasing risks? These issues are not only related to the future of Bitcoin, but also to the development of the entire financial system.
💬 What do you think of this debate? Do you think banks should provide income for Bitcoin deposits? Can they provide stable and sustainable returns?
