MicroStrategy Inc. (NASDAQ:MSTR) co-founder Michael Saylor emphasized Bitcoin's potential as an institutional asset class and store of value Bitcoin (CRYPTO: BTC) in a video published on Monday.

"2024 is the year of birth of Bitcoin as an institutional-grade asset class," Saylor stated.

Bitcoin's evolution into a recognized asset class is a milestone comparable to the conversion of gold into ETFs and the creation of the S&P index ETF, he added. See video below.

Listen to Michael @Saylor explain why his company owns $8,200,000,000 of #bitcoin pic.twitter.com/E7BuH55qmt

— Documenting ₿itcoin 📄 (@DocumentingBTC) February 7, 2024

See Also: MicroStrategy Q4 Earnings: Revenue Miss, Bitcoin Strategy Update And More

Bitcoin's unique position as the first institutional-grade digital asset signals a shift from its initial 15 years as an unregulated, retail asset to a forthcoming era of regulated, institutional growth, he added.

Saylor also likened Bitcoin to tech companies like Microsoft, Google, and Apple, which have revolutionized various sectors through digitalization.

"Bitcoin represents the digital transformation of capital," Saylor said, envisioning a future where capital, traditionally held in analog forms like land, gold, or fiat currency, transitions into a digital asset free from the limitations of its physical counterparts.

This transformation, according to Saylor, addresses the historical shortcomings of analog assets, offering benefits without the associated liabilities.

Also Read: Binance Delists Monero – Privacy Coin Tanks 37% — And It's Not An Isolated Event

Bitcoin has also spurred a burgeoning industry of new job opportunities, with miners, custodians, and exchanges each contributing to both growth and performance, Saylor says, predicting that more entrepreneurs will enter the space.

Still, there are plenty of misconceptions about Bitcoin.

Highlighting the arrival of Bitcoin ETFs as a "catalytic moment," Saylor argued that viewing Bitcoin solely as a medium of exchange overlooks its potential as a significant store of value.

He posits that as the narrative shifts towards Bitcoin as a digital property, past criticisms become irrelevant, paving the way for its acceptance and integration into the institutional investment landscape.

Read Next: AI-Generated Fake IDs Bypass Crypto Exchange KYC Checks, OKX Says Industry-Wide Issue

Image: Shutterstock