Michael Saylor has spent six years telling anyone who will listen to buy Bitcoin (BTC). In an interview published on Aug. 6, he added a new instruction to the list: Do not buy a house.
“Let me tell you why you shouldn't buy a house,” the Strategy (MSTR) co-founder said on The Diary Of A CEO. “Because there's a 2% property tax on houses in Florida, which means that if you buy a house, you pay 2% of the value every year.” His conclusion followed immediately: “2% means that every 36 years you actually pay the cost of the house in tax to the government.” A house, he argued, is “not a very good store of value because you're taking on a massive tax load and you're taking on a maintenance load.”
