MicroStrategy’s Executive Chairman Asserts Bitcoin’s Supremacy Over Gold and Real Estate

MicroStrategy’s Executive Chairman Asserts Bitcoin’s Supremacy Over Gold and Real Estate

Crypto News – Michael Saylor, the Executive Chairman of MicroStrategy, remains steadfast in his conviction that Bitcoin surpasses traditional assets like gold and real estate. In a recent interview with Bloomberg on February 20th, Saylor reiterated his commitment to Bitcoin, stating that he has no intentions of selling despite MicroStrategy’s substantial unrealized profits, nearing $4 billion.

“I’m committed to buying Bitcoin indefinitely. Bitcoin serves as our exit strategy,” affirmed Saylor when questioned about the possibility of selling MicroStrategy’s significant Bitcoin holdings, currently standing at 190,000 BTC, valued at approximately $9.88 billion.

Saylor outlined his bullish outlook for Bitcoin, emphasizing its technical superiority over gold, the S&P 500, and real estate, despite their larger market capitalizations compared to Bitcoin’s $1 trillion market cap. He expressed confidence that capital would continue to flow from these traditional asset classes into Bitcoin, given its superior qualities.

“Bitcoin’s technical prowess positions it above traditional asset classes. Therefore, there’s no rationale for divesting the champion to invest in inferior assets,” Saylor affirmed.

MicroStrategy, a leader in business intelligence software, made headlines in 2020 by being the first publicly traded company to invest significantly in Bitcoin. With 190,000 BTC acquired by the fourth quarter of 2023, at an average cost of $31,224 per Bitcoin, MicroStrategy‘s total investment amounts to $5.93 billion.

In addition to corporate investments, the demand for Bitcoin has been amplified by the introduction of spot Bitcoin exchange-traded funds (ETFs) in the United States, excluding the Grayscale Bitcoin Trust (GBTC). According to data from HODL15Capital, these ETFs currently hold an estimated 270,000 BTC as of February 16th.

Saylor addressed concerns about the impact of ETFs on MicroStrategy’s ability to acquire Bitcoin, stating that the company employs a leveraged operating strategy for digital asset investments. He emphasized that spot ETFs have facilitated institutional capital inflow into the Bitcoin ecosystem, driving the digital transformation of capital.

“This surge in demand is a rising tide that will elevate all digital assets,” Saylor concluded optimistically.