Michael Saylor Reveals Why He Chose Bitcoin Over Gold On MicroStrategy’s Balance Sheet
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Answer Michael Saylor Reveals Why He Chose Bitcoin Over Gold On MicroStrategy’s Balance Sheet
Michael Saylor, CEO of MicroStrategy, stated that his company had no regrets about choosing bitcoin over gold, and added:
Bitcoin is better for MicroStrategy than it would have been for gold.
According According to James Seifart of Bloomberg Intelligence, Saylor made the remark while speaking at the Bloomberg warm-up event for the Bitcoin 2022 conference that kicks off today, April 6.
In a tweet, Seifart quoted Saylor to speculate that if MicroStrategy had chosen to adopt a gold standard rather than the bitcoin standard, there would have been a noticeable difference in the company’s standing at the moment.Read:Stellar invests in a cryptocurrency portfolio to launch new products related to XLM … Details here
By Saylor’s forecast, if he had picked gold, MicroStrategy would likely cause shareholders to lose $4-5 billion in profit.
His words were as follows:
If you had chosen gold instead of bitcoin, we would probably have about $250 million in gold.
Our shareholders would have lost 4 or 5 billion dollars.
Saylor also expressed his belief that he does not believe that cryptocurrencies are incompatible with the dollar, but that it is a net positive for him.
This is because bitcoin is closer to ownership, while the greenback (the dollar) remains the currency of choice to own in any country, Saylor told Mike McGlone, who was also part of the committee.
Saylor’s latest comments come after he recently confirmed that plans to ban Proof of Work (Proof of Work) mining are tantamount to banning digital ownership.
MicroStrategy continues to accumulate Bitcoin:
The enterprise software company has not looked back since it decided to adopt the Bitcoin standard in 2020.
MicroStrategy has become the largest institutional investor in Bitcoin, owning approximately 125,051 Bitcoins in total (about 0.5% of the total Bitcoin supply).Read:Another Defi Protocol Falls Victim of Exploit…and its Digital Currency Collapses by 95%
Yesterday, her last Bitcoin purchase was announced with a value of 4,167 BTC.
Meanwhile, data shows that bitcoin has outperformed gold by a large margin in the past decade.
According to CaseBitcoin, an asset tracking tool, Bitcoin’s 10-year ROI has registered a massive 955,954% increase compared to gold’s only 19% increase.
Once again…Terra Buys $230 Million Bitcoin After Bitcoin Dropped To $44,000
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