Once again Michael Saylor and its Microstrategy is in limelight in the Crypto World. Microstrategy has recently announced the purchase of 12,000 more bitcoin after the recent purchase of 3000 Bitcoin in February 2024. The purchase has increased the total holding of Microstrategy’s Bitcoin at 2,05,000.
After the purchase of 12000 Bitcoin by Microstrategy, its CEO Michael Saylor has an interaction with CNBC where he predict that Bitcoin will be much more valuable asset than Gold and said that Bitcoin will eat gold in the future.
According to Michael Saylor, Bitcoin has all the the metal's great attributes, but none of its problems which means that Gold is a very risky asset which can’t be move from New York to Tokyo in a minutes while Bitcoin has this ability and is more secure than gold. Saylor further clarified that Bitcoin at least replace digital Gold in the investment ecosystem.
Michael Saylor further highlighted the Bitcoin Halving event which will going to occur in this April which will reduce the crypto’s block reward to 50%, meaning just 450 new bitcoin hitting the market each day from the current 900. Its impact will be the increase of Bitcoin price so to adjust the investor demand.
This Monday, Bitcoin became the eighth most valuable asset globally, beating silver with a market value above $1.4 trillion. It's impressive, but Bitcoin has a long way to catch up to gold, which is valued at a massive $14.7 trillion.
However it is not clear whether Bitcoin will eat gold in the near future or not but it is clear that bitcoin has the ability to become the topmost choice of the investor in the near future to invest for a long term and the best crypto to buy now.
