“Bitcoin vs Gold: A Decade-Old Debate“
The debate between Bitcoin and Gold has been ongoing for over a decade, with proponents and critics on both sides. Michael Saylor, the founder of MicroStrategy, recently shared a chart comparing the performance of Bitcoin and Gold since August 2020. According to the data, Bitcoin has surged by 214% while Gold has declined by 3% during the same period.
Binance CEO’s Ironic Statement
In an ironic twist, Binance CEO Changpeng Zhao stated that “Bitcoin is not a good store of value” due to its volatility. This statement aligns with the arguments of Bitcoin critics, but historical data shows that Bitcoin’s volatility has generally resulted in better returns compared to Gold.
MicroStrategy’s BTC Bet
Since MicroStrategy began purchasing Bitcoin, it has maintained a long-term commitment to the cryptocurrency. The company has not sold any of its Bitcoin holdings and currently holds 158,400 BTC units acquired at an average cost of $29,586 per Bitcoin. With the current price of Bitcoin at $36,566.96 per coin, MicroStrategy is sitting on a significant profit.
Hot Take: MicroStrategy’s Success with Bitcoin
MicroStrategy’s success with Bitcoin demonstrates the potential for the cryptocurrency as a store of value and investment asset. The company’s unwavering commitment to Bitcoin has proven lucrative, showcasing the potential for long-term gains in the cryptocurrency market.
Sources:
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Disclaimer: The views expressed are those of the author and should not be considered as financial advice. Conduct thorough market research before investing in cryptocurrencies. The author and publication are not liable for any personal financial losses incurred.
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