Last week, MicroStrategy Inc MSTR announced its results for the fourth quarter. Co-Founder and Chairman Michael Sailer discussed projects and companies in the crypto space during his earnings call.

Saylor called Many crypto projects have fallen apart after macroeconomic challenges and crypto scandals over the past year, including the FTX FTT/USD Implosion.

“If you look at the microeconomic situation over the last 12 months, most of the crypto companies, crypto assets and crypto use cases have all melted down in that time. Of course we know the stories of bankruptcies BlockFi And Celsius and FTX and Genesis and Voyager and Alameda,” Saylor said.

“We also know about the meltdowns of all crypto tokens that Terra LUNA/USD token, the FTT token, etc. We believe these were all very weak use cases and fragile structures. And it was a matter of time before they melted together,” he added.

According to Saylor, Bitcoins BTC/USD Its strength as a decentralized digital asset has been underscored by the failures of other projects that lacked these qualities.

Also read: If Charlie Munger spent “100 hours studying problems” outside the US, he would be more optimistic about Bitcoin than I am, says Michael Saylor

“The meltdown has created negative short-term headwinds for bitcoin because bitcoin is cross-collateralized with all these other cryptos. But in the long term, the rationalization of the crypto market will be beneficial for Bitcoin. She has educated a generation of investors on the benefits of Bitcoin as a decentralized digital asset and the benefits of having no counterparty risk,” he said.

Saylor is known as one of the most prominent corporate supporters of Bitcoin, which MicroStrategy has a stake in around 132,500 BTC As of December 2022. He is also said to own it personally more than 17,000 BTC.

At the time of writing, Bitcoin was trading at $23,187, down 1.25% over the past 24 hours.

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