Bitcoin vs gold: Michael Saylor’s choice pays off
When they say that Bitcoin is a digital gold, it often sounds like an aspiration.
However, Bitcoin largely surpasses gold in many aspects: it’s easy to exchange, it’s limited at 21M, and when BTC price goes up and miners double down on their efforts, it does not affect the supply, but only makes Bitcoin network stronger.
No wonder why Bitcoin as an asset is performing so much better that gold. Microstrategy’s Michael Saylor can tap himself on the back for being so bullish in his Bitcoin investments, but he doesn’t seem to be willing to rest on his laurels.
He used the recent market slump to buy 5’050 more bitcoins, increasing Microstrategy’s treasury to over 114k bitcoins acquired for ~$3.16 Bn at an average price of ~$27,713 per coin.
He recently tweeted “If I had chosen gold instead of bitcoin last year, it would have been a multi-billion dollar mistake.” Indeed it would have been.
