The CEO of publicly-traded intelligence company MicroStrategy, Michael Saylor, recently said Bitcoin would outperform gold by all metrics. Speaking in an interview with Stansberry Research, Saylor explained why Bitcoin will exceed gold in the long-term.
Noting that he studied both Bitcoin and gold, he gave a summary of his observation:
“…Given the fact that Bitcoin is an infinitely hard asset, whereas gold can be produced by human beings given enough incentive, I realized that over the long term, Bitcoin is the harder asset than gold.”
Comparing Bitcoin with other commodities in which production incentive increases as there is an increase in the price. He said Bitcoin does not suffer a similar difficulty.
In addition, Saylor said no amount of investment in Bitcoin mining can lead to more of the digital coin production.
Furthermore, the CEO highlighted more reasons for his optimism about Bitcoin. Specifically, he said Bitcoin is faster, stronger, and smarter. Referring to Bitcoin as digital gold, he is confident that it will continue to get better.
In August, Saylor announced that MicroStrategy purchased 21,454 BTC worth $250 million, making Bitcoin its Primary Treasury Reserve Asset.
About a month later, the CEO and co-founder of MicroStrategy revealed in a tweet that the company had acquired an additional 16,796 BTC worth $175 million. In total, the mobile intelligence company owns 38,250 BTC.
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