Tue 23 Jul 2024 ▪
3
min of reading ▪ by
As the crypto market experiences a rebound, Michael Saylor, co-founder of MicroStrategy, has just released a compelling new statement on Bitcoin. The ardent defender of the queen of cryptos reaffirms its supremacy over other financial asset classes.
Saylor Reaffirms His Unwavering Conviction in Bitcoin
On the X platform, the entrepreneur compared BTC’s performance with that of different assets: “Bitcoin is the only way to progress.” This assertion aligns with Saylor’s usual stance, who sees Bitcoin as a remedy for current economic woes.
The timing of this statement is significant. It comes as Bitcoin’s price rebounds and nears $68,000 again, after withstanding the selling pressure from massive sales by the German government.
To support his claims, Saylor shared a chart comparing the performances of different asset classes since August 2020, when MicroStrategy initiated its massive Bitcoin accumulation strategy. The figures are compelling: with an annualized return of 55%, Bitcoin far outperforms the S&P 500 and Nasdaq (13% each), gold (5%), silver (2%), and bonds (-5%).
MicroStrategy Continues Its Aggressive Accumulation Strategy
This data reinforces Saylor’s conviction about Bitcoin’s superiority as a store of value. It counters the frequent criticisms of its volatility, highlighting sustained long-term growth.
Saylor’s philosophy can be summed up as: “If it’s not Bitcoin, your money melts.” This conviction is concretely reflected in MicroStrategy’s strategy. The company currently holds 226,331 BTC, valued at $7.538 billion, making it one of the largest institutional holders of crypto.
Despite recent market fluctuations, Saylor remains resolutely optimistic about BTC’s future. In a recent article titled “Bitcoin to the Moon”, he reaffirms his confidence in the digital asset’s bullish potential.
The current Bitcoin rebound, which aims to regain the advantage over silver after a period of correction, seems to prove Michael Saylor right.
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Passionné par le Bitcoin, j’aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l’outil qui peut rendre cela possible.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.