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Michael Saylor Says Bitcoin Is Replacing Gold

Bitcoins_shows_bullish_whereas_gold_showing_bearish_since_august
  • According to Michael Saylor, Gold failed to increase its value.
  • Saylor also thinks that observers are replacing Gold with Bitcoin.
  • Bitcoin is getting more adoption from giants like MicroStrategy, Tesla, and JPMorgan.

The chairman and CEO of MicroStrategy, Michael Saylor, believes that despite the chaotic slide on global bond markets at the beginning of this year, Gold failed to increase its value. Besides, people recognize that Bitcoin is replacing Gold.

He recently tweeted:

Gold… has been on the decline since peaking in August last year. Even the chaotic slide on global bond markets in February and March this year failed to fire it up.” Observers around the world are realizing that #Bitcoin is replacing #Gold.

Worth noting that Michael Saylor and his MicroStrategy are known as ardent supporters of Bitcoin. Solidifying himself as a crypto-guru, Michael, earlier this year, revealed his view of Bitcoin as a once-in-a-lifetime transformation. He also suggested everyone convert their cash into Bitcoin.

Additionally, MicroStrategy has purchased nearly 100K BTC in total. Not limited to this, the company has recently decided to pay its non-employee Directors board fees in BTC instead of cash. The payment processor will directly convert transaction fees from USD to BTC during payment.

Notably, MicroStrategy is not the only company that believes in the potential of Bitcoin. Particularly, Tesla holds $1.5 billion worth of Bitcoins, and financial services giant JPMorgan is launching its first Bitcoin fund this summer.

However, the world is divided into two sides when it comes to deciding which investment is better: Gold or Bitcoin. In practice, the old generation investors prefer Gold with its predictable, comfortable, and reliable value. In contrast, Bitcoin is digital gold for new thinkers, and could potentially be the future of the payment system.

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Irina is a language expert that speaks English, Turkish, Uzbek, and Kazakh. She constantly sweeps the Russian-speaking cyberworld for news. She occasionally submits her write-ups to CoinQuora.