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MicroStrategy CEO Says ‘Bitcoin (BTC) Is a Million Times Better Than Gold’

Michael Saylor, the Chief Executive Officer (CEO) at the business intelligence firm MicroStrategy has argued on the importance of Bitcoin the first-ever decentralized digital currency of the world. He said that there is nothing close to Bitcoin (BTC), not even the so-called safe-haven asset Gold. While comparing Bitcoin with Gold, he said that the top digital currency is a million times better than that of Gold.

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Recently, the CEO of MicroStrategy appeared in an interview with Real Vision, a financial news outlet. In the interview, he said that he considers Bitcoin better than Gold saying that if it is not one hundred times better, then it is a million times better than Gold. While elaborating his point of view further in his discussion with Real Vision’s Chief Executive Officer (CEO) Raoul Pal, he said that making an investment of 1 percent in the world’s leading digital currency is not enough especially when you have a complete understanding of Bitcoin. He explained:

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“Once you understand Bitcoin, you have anxiety about being short. When I’m in the market, I’m buying Bitcoin four days in a row, every minute. If it’s not 100 times better than gold, it’s a million times better than gold and there’s nothing close to it.”

Saylor’s firm MicroStrategy made an investment in Bitcoin on the 11th of August when it had bought a total of 21, 454 BTC for an amount of $250 million.  At that time, Saylor said that their investment reflects their belief in the major cryptocurrency while acknowledging Bitcoin as a store of value. Later on, the business intelligence company made another investment and acquired an additional 16,796 BTC for an amount of $175 million on the 14th of September.

He has also claimed in the interview that if it comes to hold Bitcoin, his firm would be storing BTC for the next 100 years. He said that the company has no intention to sell Bitcoin any time soon.

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Following the investment of MicroStrategy, an immediate surge was noted in the price value of Bitcoin at that time. However, after that, the coin entered into a consolidation phase and remained there for over two months until recently when it recorded its new yearly high.

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MubaShar Nawaz (United Arab Emirates)

MubaShar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

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