MicroStrategy founder Michael Saylor said that Bitcoin will replace gold.
Michael Saylor repeated the famous thesis of Bitcoin advocates.
Michael Saylor Thinks Bitcoin Will Replace Gold
MicroStrategy founder and former CEO Saylor has suggested that the leading cryptocurrency will surpass gold in various metrics such as value storage and will eventually replace the asset.
In an interview with Stansberry Research, Saylor acknowledged that Bitcoin’s process of taking gold to the ground will come with several ups and downs. According to Saylor, Bitcoin is more likely to be legally accepted as money than gold.
“Traditional critics and mainstream analysts don’t understand crypto economics, they don’t understand Bitcoin, and they hate volatility. Bitcoin will demonize gold over time and gold will not be accepted as money in the 21st century.”
A Long Term Investment
Speaking about Bitcoin’s volatility, Michael Saylor stated that long-term investors should not worry about volatility. Saylor claimed that Bitcoin received such criticism because of its short-term monetization strategies. Saylor stated that his company is investing in Bitcoin as part of a long-term plan.
Saylor has faced criticism as a result of his company taking losses due to Bitcoin’s decline. The company reported revenue of only $122.1 million, versus expected revenue of $126 million.
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