MicroStrategy CEO has voiced his opinion regarding the debate about Bitcoin and Gold.
There is an ongoing debate about Bitcoin and gold and which of the two is the best store of value. Bitcoin is the leading cryptocurrency in the world and has a market cap of over $1 trillion. Gold is one of the most valuable assets and store of value, with a market cap above $10 trillion.
However, in recent years, Bitcoin has outperformed gold, rising by hundreds of percentages compared to gold. MicroStrategy’s CEO Michael Saylor talked about Bitcoin and gold as a store of value during a recent interview with CNBC.
According to Saylor, there is an ongoing war between Bitcoin and gold regarding the best store of value, and Bitcoin is winning. He stated that “It is clear Bitcoin is winning and gold is losing. It is easier, faster and cheaper to move a billion dollars worth of bitcoins than it is to do the same for gold.”
Saylor added that it is very clear that digital gold will replace regular gold as the store of value in this decade. MicroStrategy is one of the companies that are most bullish about Bitcoin. The software development company has bought more than $3 billion worth of bitcoins over the past few months.
MicroStrategy’s bitcoin holdings have increased to more than $7 billion. Saylor has pointed out on numerous occasions that the company doesn’t intend to sell its bitcoins now. Instead, MicroStrategy will keep adding bitcoins to its balance sheet.
Saylor remains optimistic about Bitcoin despite the recent price decline. Bitcoin is down by nearly 20% from the all-time high of $69,400 it achieved earlier this month. At press time, Bitcoin is trading just below the $58k level as the broader market continues to be in a bearish trend.
There are ongoing talks about cryptocurrency regulations. However, Saylor said he is not worried about the talks of regulation as he believes Bitcoin remains the best store of value for institutional investors and corporate entities.