Last week, Hedgeye aired a webcast featuring Microstrategy CEO Michael Saylor and Hedgeye CEO Keith McCullough. Here, Saylor and McCullough discussed the volatility of digital assets. It focuses on stocks like Bitcoin, Apple, Facebook and other commodities such as gold and oil.
Saylor pointed out that he studies the market volatility of different stocks in and out of the crypto world. He concludes that Bitcoin’s volatility is not that high compared to other stocks like gold and Apple.
Saylor further explained:
My unscientific view is on every single day at least half of those assets are more volatile than bitcoin. And on a lot of volatile days, I’ve seen 80% to 90% of them be more volatile than bitcoin.
In addition, Saylor says that an estimated amount of $250 trillion assets is eyeing Bitcoin. This is because of the great performance the coin has achieved. As a result, it is making Bitcoin a profitable investment in the years to come.
Microstrategy has already seen this opportunity. As a matter of fact, the company bought a total of 38,250 BTC at a total price of $425 million. Therefore, Microstrategy is expecting bullish returns in the future.
Moreover, Bitcoin remains on top of digital assets like gold ($1,902) and Nasdaq ($113,598). Meanwhile, we predict Bitcoin price to go over $15,000 in 2021. This proves that the leading crypto can make its way even in today’s market depression.