Michael Saylor predicts that Bitcoin, with its advantages over gold, will become the ultimate safe haven asset.
As its price briefly exceeded $72,000, Bitcoin surpasses silver and becomes the eighth most valuable asset, aiming for gold’s market value.
MicroStrategy expands its Bitcoin portfolio to 205,000 BTC, with new purchases valued at $800 million.
Michael Saylor, shares his vision where Bitcoin would dethrone gold, marking a revolution in the perception of safe haven assets, as MicroStrategy announces the purchase of an additional 12,000 BTC.
A Future Where Bitcoin Dominates Gold
Following MicroStrategy’s additional purchase of 12,000 bitcoins, bringing its holdings to 205,000 BTC, Michael Saylor spoke on CNBC. According to him, Bitcoin presents the same advantages as gold, without the disadvantages, such as the difficulty of physical transportation between continents.
Saylor anticipates that Bitcoin will attract investments at the expense of other risky assets, such as the S&P 500, and envisions its inclusion in various investment funds, similar to BlackRock’s recent initiatives with Bitcoin Spot ETFs.
The Status of Bitcoin Compared to Gold
Bitcoin has recently surpassed silver, becoming the eighth most valuable asset in the world with a market capitalization of over $1.4 trillion. However, it still has a long way to go to match gold, which is valued at $14.7 trillion.
Michael Saylor highlights the importance of Bitcoin’s upcoming halving in April, which will halve the block reward to 450 new bitcoins per day. According to him, this decrease in supply will require an upward price adjustment of Bitcoin to meet investor demand.
MicroStrategy’s Continued Investment in Bitcoin
MicroStrategy recently announced that it has invested over $800 million in the purchase of an additional 12,000 bitcoins. This acquisition brings their total holdings to 205,000 tokens, confirming the company’s strategy to rely on Bitcoin as its primary store of value. BlackRock’s Bitcoin ETF briefly surpassed MicroStrategy’s holdings before this new purchase.
