Michael Saylor, the no-introduction “Bitcoin hunter” continues his attacks on everything that is not Bitcoin, this time unleashing his anger on gold.
It feels great, says Saylor, to own 71,000+ bitcoins
In an interview with Andrew Henderson of Nomad Capitalist, a financial legal advisor to Saylor, who condemned gold as a “dying good” and “dead money”, offered his view of the future of investing: gold is off, bitcoin is in.
To recapitulate Saylor’s rise to bitcoin supremacy, his firm Microstrategy made headlines for their relentless bitcoin shopping spree in 2020. Purchase of 29,646 coins in December alone. 2021 is no different: Saylor today announced another purchase of 295 Bitcoins, bringing its total to 71,079.
MicroStrategy bought approximately 295 bitcoins for $ 10.0 million in cash at an average price of ~ $ 33,808 per #bitcoin. We have now purchased #hodl ~ 71,079 bitcoins for $ 1.145 billion at an average price of ~ $ 16,109 per bitcoin.https: //t.co/lmj3QCgKbw
– Michael Saylor (@michael_saylor) February 2, 2021
Saylor explains his aggressive buying behavior in an interview
It’s a long-lived, safe haven. You cannot devalue it. If you look to the long run, ten, twenty, thirty years, owning Bitcoin is like encrypting your monetary energy so that it is preserved without deteriorating in the long run.
And it seems to be paying off for his company, as he boasts in this tweet:
Regarding the bleak 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 to be led by all the hedge funds at the top when they dump their gold, you will be the last person to fail.
Saylor doesn’t stop at gold. For him, any other form of investment that is not Bitcoin is just not worth it:
Look at each asset class over the past six months. Look at gold, look at NASDAQ, look at the S&P, look at bonds. They all hack. You are not going anywhere. What works? Bitcoin works. It tripled or quadrupled, but let’s just say tripled.
Check out the full interview below ->
What do you think of gold versus bitcoin as an investment vehicle? Let us know in the comments below.
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