MicroStrategy CEO Michael Saylor says Bitcoin is 50 times better than gold.
After stating once again that bitcoin is better protection than gold during these uncertain economic times, MicroStrategy’s Michael Saylor, known for his support only for the BTC, also noted that Ethereum and some other cryptocurrencies have a place in the ecosystem .
Ethereum also has a place
Since MicroStrategy started buying considerable amounts of bitcoin, and Saylor did it himself, the company’s CEO has become one of the most prominent BTC maximalists. As such, he rarely discussed any other digital assets and even more rarely had anything positive to say.
However, he seemed significantly more optimistic about some cryptocurrencies, especially ether, in a more recent interview with CNBC’s Fast Money.
— CNBC’s Fast Money (@CNBCFastMoney) June 15, 2021
He called the network behind the second largest cryptocurrency a “digital app” what you want “dematerialize the JPMorgan building, banking establishments and all exchanges“.
Consequently, Saylor said, “there’s a place” for the Ethereum blockchain and its native cryptocurrency.
Likewise, he opined that stablecoins also have a place in the ecosystem and compared them to upcoming central bank digital coins as they could play a somewhat identical role.
Bitcoin is better than gold
In addition to his brief recommendation on Ethereum and stablecoins, Saylor highlighted the merits of BTC over all other investment instruments, as he has done countless times in the past.
He justified the decision of his company buying even more bitcoins after raising money from the sale of $1 billion of Class A common stock, calling the BTC the most suitable investment tool in times of rising inflation.
“I think for the last 12 months, we’ve all been waiting for inflation and I think we’re seeing that now. I think investors are seeing bitcoin up 330% and gold 7% in this period. So bitcoin is outperforming gold as a hedge against inflation by a factor of 50. So, you’re seeing Paul Tudor Jones and other early bitcoin adherents thinking, ‘maybe it’s time for me to double or triple my allocation.” ”
He doubled his belief that BTC is better than yellow metal, saying: “I’m surprised they aren’t increasing their allocation by a factor of 10 because bitcoin is 50 times better”.
Despite being considered a risky asset for some, the investment in bitcoin and the company’s growth really left “happy investors and shareholders”, concluded Saylor.