Fun

Michael Saylor Predicts Massive Investor Shift from Gold to Bitcoin After Buying Another $10M Worth of BTC

News Feed - 2021-02-03 01:02:14

Michael Saylor Predicts Massive Investor Shift from Gold to Bitcoin After Buying Another $10M Worth of BTC


Michael Saylor, the ‘bitcoin slayer’ that needs no introduction, continues his attacks on everything non-bitcoin, this time unleashing his wrath on gold. It Feels Great, Says Saylor of Owning More Than 71K Bitcoins


In an interview with Andrew Henderson of Nomad Capitalist, a legal finance advisory, Saylor, condemning gold as a “dying asset” and “dead money,” offered his view of the future of investment: gold is out, bitcoin is in.


To recap Saylor’s ascent to bitcoin supremacy, his firm Microstrategy made headlines for its relentless bitcoin shopping spree during 2020, buying 29,646 coinsin December alone. 2021 is no different, with Saylor announcing today another purchase of 295 bitcoins, bringing his total to 71,079. MicroStrategy has purchased approximately 295 bitcoins for $10.0 million in cash, at an average price of ~ $33,808 per #bitcoin. We now #hodl ~ 71,079 bitcoins acquired for $1.145 billion at average price of ~ $16,109 per bitcoin.https://t.co/lmj3QCgKbw


— Michael Saylor (@michael_saylor) February 2, 2021



Here’s how Saylor explains in the interview his aggressive purchasing behavior It’s a long-duration, safe-haven asset. You can’t debase it. If you look in the long term, ten, twenty, thirty years, owning bitcoin is like encrypting your monetary energy in a way that will preserve it, without any degradation in the long term.


And it seems to be paying off for his firm, as he boasts in this tweet:



Regarding the grim future of gold, Saylor had this to say: Gold is dead money. Sell your gold, buy Bitcoin because other people are going to sell their gold and if you wait until you’ve been front-run by all the hedge funds when they dump their gold, you’re going to be the last person out.



Saylor doesn’t stop at gold. For him, any other form of investment that is not Bitcoin, is just not worth it: Look at every asset class for the last six months. Look at gold, look at NASDAQ, look at the S&P, look at bonds. They’re all chopping. They’re not going anywhere. What’s working? Bitcoin’s working. It’s tripled or quadrupled, but let’s say tripled easy.


Watch the full interview below ->



What do you think of Gold vs Bitcoin as investment vehicles? Let us know in the comments sections below. Ditto Promotes Accessible Finance for Streaming Artists with the Launch of Defi Platform NEWS | 1 hour ago Publicly-Listed Air Purifier Manufacturer Adds Dogecoin as a Form of Payment Amid Token"s Popularity NEWS | 3 hours ago Tags in this story Bitcoin, Bitcoin gold, Bitcoin vs gold, investment, michael saylor, microstrategy


Image Credits: Shutterstock, Pixabay, Wiki Commons, Twitter, Spot-markets for Bitcoin, Bitcoin Cash, Ripple, Litecoin and more. Start your trading here. Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Travala’s 2021 Q3 Report Shows Crypto Adoption ‘Offset the Negative Impact of the Pandemic’
Travala"s 2021 Q3 Report Shows Crypto Adoption ‘Offset the Negative Impact of the Pandemic’ The crypto-friendly travel company Travala published its third-quarter 2021 report s
Guild of Guardians Is a Stunning Multiplayer RPG Where You Play to Earn Epic NFT Rewards
Guild of Guardians Is a Stunning Multiplayer RPG Where You Play to Earn Epic NFT Rewards sponsored Guild Of Guardians is a multiplayer RPG where players earn epic rewards. The proje
On March 14th, 3PM JST, Cosplay Token Will Be Simultaneously Listed on Zaif and SEBC Japanese Cryptocurrency Exchanges
On March 14th, 3PM JST, Cosplay Token Will Be Simultaneously Listed on Zaif and SEBC Japanese Cryptocurrency Exchanges press release PRESS RELEASE. Cosplay Token “COT”
American Truckers Are Planning a Convoy to Washington, Group Raises Over $100K
American Truckers Are Planning a Convoy to Washington, Group Raises Over $100K While the Canadian government and Prime Minister Justin Trudeau try to quell the demonstrations in Ot
Zhiyuan Sun8 hours agoBalancer says $2.8M still at risk after vulnerability warningThe vulnerability was not exploited after its discovery on Aug. 22.283 Total views4 Total sharesListen to article 0:00NewsJoin us on soci
Kevin O’Leary Warns US Crypto Regulation Getting ‘Very Aggressive’ — ‘You’ve Got to Stay out of the Way of SEC’
Kevin O"Leary Warns US Crypto Regulation Getting "Very Aggressive" — "You"ve Got to Stay out of the Way of SEC" Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has warned
Bitcoin Reaches New High Of $94,000: Blockstream CEO Anticipates $1 Million Ahead
Bitcoin (BTC) has achieved a historic milestone, reaching $94,000 for the first time, fueled by a significant uptrend since November 5, the day President-elect Donald Trump secured his re-election. Trump’s promise to b
’30for30′ Bitcoin Solidarity With El Salvador Trend Tries to Convince People to Buy $30 in BTC Tomorrow
"30for30" Bitcoin Solidarity With El Salvador Trend Tries to Convince People to Buy $30 in BTC Tomorrow It’s a big day for El Salvador this Tuesday, as the country’s
Bank of Ghana unveils draft rules for cryptocurrency exchanges
Arijit Sarkar1 hour agoBank of Ghana unveils draft rules for cryptocurrency exchangesThe Bank of Ghana introduces draft guidelines to regulate digital assets, focusing on exchanges and consumer protection measures.431 To
Bitcoin Network Sees a Massive Mining Pool Shift Following the Halving
Bitcoin Network Sees a Massive Mining Pool Shift Following the HalvingFollowing the third bitcoin halving on May 11, 2020, there’s been a big shift in mining pool distribution
Gas-to-Bitcoin Firm Crusoe Energy Sues Rival Alkane Midstream Over Patent Infringement
Gas-to-Bitcoin Firm Crusoe Energy Sues Rival Alkane Midstream Over Patent Infringement The Denver-based gas-to-bitcoin infrastructure company Crusoe Energy is suing the rival firm
FTX saga ends as Sam Bankman-Fried gets 25 years in prison: Law Decoded
David Attlee4 hours agoFTX saga ends as Sam Bankman-Fried gets 25 years in prison: Law DecodedSBF became the first person tied to FTX and Alameda Research to face prison time following the collapse of the exchange in Nov