MicroStrategy CEO Michael Saylor made bold claims about the future of Bitcoin in a recent program on CNBC, claiming that BTC will overshadow gold as a more valuable asset.
Saylor's comments come on the heels of MicroStrategy's announcement today that it has purchased another 12,000 Bitcoin (BTC), representing over $800 million.
Saylor argued that Bitcoin has all the desirable qualities of gold without its inherent flaws. Saylor likened Bitcoin to “digital gold” and emphasized its superiority in terms of speed and accessibility compared to physical gold. Saylor argued that Bitcoin's ability to be bought and sold globally 24/7 makes it a more practical and efficient store of value.
Saylor also addressed concerns about Bitcoin's volatility, stating that the halving event expected around April 20 will significantly reduce the natural supply of sellers in the market.
“Bitcoin is absolutely at least digital gold, it will eat gold,” Saylor said, adding: “It has all the great properties of gold and none of the flaws of gold.”
Regarding MicroStrategy's role in the Bitcoin ecosystem, Saylor likened his company to an “air carrier” of Bitcoin, as opposed to giants like BlackRock, which he called a “container ship.” He explained that MicroStrategy's use of strategic leverage allowed it to increase its exposure to Bitcoin, thereby increasing shareholder value.
*This is not investment advice.
