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Bitcoin Set to Surpass Gold as the Superior Asset, MicroStrategy Executive Chairman Michael Saylor Predicts
MicroStrategy executive chairman Michael Saylor recently shared his belief that Bitcoin will soon outshine gold as the premier asset, highlighting its superiority across various aspects. Speaking in a CNBC interview on March 11, Saylor emphasized that Bitcoin’s advantages extend beyond gold and encompass all traditional assets, including real estate and stocks.
Superior Asset Qualities
Saylor described Bitcoin as a potential “digital gold,” noting its role as a secure store of value. He underscored that Bitcoin embodies the finest attributes of gold while avoiding its flaws. Additionally, Saylor emphasized Bitcoin’s digital transferability, a feature lacking in physical gold. He highlighted the potential convenience of instantly teleporting gold across continents, a capability that Bitcoin possesses.
Saylor pointed out that Bitcoin’s speed and availability for trading far exceed those of conventional assets such as stocks and real estate. Bitcoin allows for rapid transactions with a turnaround time significantly quicker than traditional assets. Moreover, Bitcoin transactions are not confined to specific trading hours, making them feasible at any time during the week.
Regarding Bitcoin’s practicality for transactions, Saylor illustrated scenarios where Bitcoin’s accessibility surpasses traditional financial assets. He highlighted instances such as purchasing a house on a weekend or buying a car on a Sunday morning, advocating for Bitcoin as the ideal medium for swift and efficient transactions.
Furthermore, Saylor disclosed that MicroStrategy executed a substantial Bitcoin purchase totaling $820 million on a Saturday, a feat unattainable with conventional financial assets. This move underlined Bitcoin’s versatility and efficiency in the financial realm.
The ETF Landscape
Eric Balchunas, an ETF analyst at Bloomberg, echoed Saylor’s sentiments on March 11 regarding Bitcoin’s potential to surpass gold. Balchunas observed that spot Bitcoin ETFs are poised to overtake gold ETFs in terms of assets under management (AUM) and trading volume. With spot Bitcoin ETFs collectively amassing $55 billion AUM and conducting $110 billion in trades since January, the likelihood of surpassing gold ETFs appears plausible in the near future.
Saylor also drew attention to Bitcoin’s growing influence within the financial market, predicting a shift in capital flow from risk assets and ETFs like the SPDR S&P 500 ETF (SPY) towards Bitcoin. He pointed to BlackRock’s initiatives to incorporate Bitcoin exposure into its funds shortly after the debut of spot Bitcoin ETFs as evidence of Bitcoin’s increasing recognition in traditional financial sectors.
In conclusion, Michael Saylor’s foresight positions Bitcoin as a formidable contender against gold and other traditional assets, heralding a potential future where Bitcoin eclipses conventional financial instruments as the preferred choice for investors.
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