Why Michael Saylor wants you to ‘Sell your gold, buy Bitcoin’

Journalist

Posted: February 20, 2024

Michael Saylor, founder and ex-CEO of MicroStrategy and a Bitcoin [BTC] vocalist, on the 19th of February, claimed that the king coin would surpass Gold as the ultimate store of value in the digital era.

He also highlighted the exponential growth trajectory of the king coin as compared to Gold since 2020.

In contrast to which, Jim Bianco, President of Bianco Research advocated,

“Launching spot Bitcoin ETFs was a giant mistake.”

Bitcoin vs Gold: The better store of value?

Saylor’s journey into the realm of cryptocurrency began in August 2020 when MicroStrategy announced its initial purchase of Bitcoin. Since then, Saylor has been parsing Bitcoin and dismissing gold.

When remarking on the same, he commented,

“Gold is dead money. Sell your gold, buy Bitcoin and if you wait until you’ve been front-run by all the hedge funds when they dump their gold, you’re going to be the last person out.”

To back his points, Saylor has also uploaded a post that said,

“Since August 10, 2020, Bitcoin went up by 333%, while gold went down by 1%.”

He also added,

“The price of $BTC is still less than $0.06M.” (referred to as $60,000)

Was ETF the reason behind the recent growth?

This was contradicted in a recent talk when Bitcoin podcaster Natalie Brunell and Jim Bianco, President and macro strategist at Bianco Research, expressed,

“Spot Bitcoin ETFs is a giant mistake.”

He elaborated,

“Everybody, you’re gonna get $60,000 per Bitcoin, congratulations.”

However, Bianco was certain that the integration of Bitcoin into the current financial system through spot ETFs is akin to what happened with gold in the past.