Michael Saylor is doubling down on his belief that Bitcoin will usurp gold’s longtime role as the world’s preeminent store of value asset. In a recent interview, Saylor stated emphatically that Bitcoin is vastly superior to gold and will inevitably “eat” its market share in the months and years ahead.
According to Saylor, Bitcoin holds several critical advantages over gold that will drive this flipping of the precious metal. Chief among them is Bitcoin’s digitally transferable nature, allowing near-instant and seamless cross-border transactions – something physically cumbersome gold could never achieve. Bitcoin is essentially “teleportable digital gold,” in his words.
The MicroStrategy executive also touted Bitcoin’s unmatched 24/7/365 trading capabilities and borderless nature. Traditional assets like stocks and real estate are confined to limited trading hours and geographic jurisdictions. But Bitcoin can be freely traded and spent any day, any time, anywhere globally with just an internet connection.
Saylor’s conviction is backed up by MicroStrategy’s massive $820 million Bitcoin purchase this past weekend – a move that simply wouldn’t have been possible with legacy asset classes limited by banking holidays and market closures.
As the battle between Bitcoin and gold escalates, Saylor believes the former’s technological superiority and advancing mainstream adoption and integration with major financial institutions like BlackRock will ultimately lead to it dethroning gold’s multi-millennial reign. A changing of the guard appears imminent in Saylor’s eyes.
