Bitcoin

Michael Saylor: Bitcoin Is Going To Demonetize Gold Gradually

The growth of Bitcoin (BTC) has seen some proponents share the view that the crypto will take over gold on various metrics like the store of value and eventually replace the precious metal. Michael Saylor expressed his views in a recent interview.
Outgoing MicroStrategy CEO Michael Saylor

In instance, in an interview with Stansberry Research on August 13, outgoing MicroStrategy CEO Michael Saylor claimed that the rise of Bitcoin would certainly lead to the demonization of gold.

However, Saylor admitted that highs and lows would mark Bitcoin’s journey to replacing gold. Interestingly, he stated that, unlike gold, Bitcoin has a stronger probability of being adopted as a currency by more governments.

“Conventional critics and mainstream analysts don’t get the crypto economy, don’t understand Bitcoin, and they hate volatility… Bitcoin is going to gradually demonetize gold over time, gold will go to the utility value of gold, but it won’t be adopted as money in the 21st century,” said Saylor.

Michael Saylor stated that long-term investors need not be concerned about Bitcoin’s volatility, noting that price swings are part of the asset’s maturation journey. He claimed that Bitcoin had faced criticism for its volatility due to investors looking to earn money in the short term.

Saylor claimed in this sentence that MicroStragey’s Bitcoin investing strategy was guided by a long-term strategy. Notably, since entering the Bitcoin market in August 2020, the company has amassed over 200 BTC.

Michael Saylor, who was central to the strategy, has been criticized after the company plunged into losses. MSTR reported quarterly sales of $122.1 million in Q2 2002, compared to projections of $126 million.

In addition, the corporation lost $918.1 million, with $917.8 million linked to its Bitcoin holdings.

At the time of writing, BTC is trading at $24,486.

BTC daily chart. Source: CoinCu

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability

BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…

23 minutes ago

Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction

Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…

53 minutes ago

Book of Meme Old News? This Best Meme Coin to Invest in 2024 Is Multiplying Gains Like a Champ

Over the years, meme coins have evolved from inside jokes into serious investment opportunities.

2 hours ago

Time’s Ticking on BlockDAG’s 5-Tier Bonus- Few Days Left to Grab It While Cardano Whales Take Action, Aave Rallies Strong

Discover BlockDAG's five-tier bonus program's closing phases that enhance buyer holdings. Gain insights on the…

2 hours ago

Best Altcoins to Buy for 2025: Qubetics Presale Surge, Solana’s Lightning Speed, and Cardano’s Blockchain Revolution

Discover why Qubetics, Solana, and Cardano are redefining the crypto landscape. Learn about milestones, price…

3 hours ago

Why Qubetics, NEAR Protocol, and IMX Are Dominating Crypto: The Best Altcoins to Join Today for Game-Changing Returns 

Discover why Qubetics, NEAR Protocol, and Immutable X are the best altcoins to join today,…

5 hours ago

This website uses cookies.