Bitcoin wins and gold loses, says Saylor

The CEO of MicroStrategy has expressed his opinion on the Bitcoin and gold debate.

There is an ongoing debate about Bitcoin and gold and which of the two is the best store of value. Bitcoin is the leading cryptocurrency in the world and has a market capitalization of over $ 1 trillion. Gold is one of the most valuable assets and store of value with a market capitalization of over $ 10 trillion.

However, in recent years, the value of Bitcoin has surpassed gold and has increased by hundreds of percent compared to gold. Michael Saylor, CEO of MicroStrategy, recently spoke about Bitcoin and gold as a store of value in an interview with CNBC.

According to Saylor, there is an ongoing war between Bitcoin and gold for the best store of value. And Bitcoin wins. He explained: “It is clear that Bitcoin is winning and gold is losing. It is easier, faster and cheaper to move one billion dollars worth of bitcoins than to do the same with gold.“

Saylor added that it is clear that digital gold will replace regular gold as a store of value this decade. MicroStrategy is one of the companies that are most optimistic about Bitcoin. The software development company has purchased more than $3 billion worth of bitcoins in recent months.

MicroStrategy’s Bitcoin holdings have grown to more than $7 billion. Saylor has indicated on numerous occasions that the company does not want to sell its bitcoins now. Instead, MicroStrategy will continue to add bitcoins to its balance sheet.

Saylor remains optimistic about Bitcoin despite the recent price drop. Bitcoin is down nearly 20% from the all-time high of $69,400 it hit earlier this month. At the time of writing, Bitcoin is trading just below the $58,000 level as the broader market continues to be in a bearish trend.

There are ongoing discussions about cryptocurrency regulations. However, Saylor said he’s not worried about the regulatory talks. He believes that Bitcoin is still the best store of value for institutional investors and companies.

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