After successfully breaking through the $40,000 resistance, the flagship cryptocurrency has been trading slightly above the mentioned price range since yesterday. The investment and support of big companies such as MicroStrategy and Tesla have greatly added to the value of the digital asset. If you have also been planning to invest in BTC then you can use secure exchanges such as SwissBorg or Kraken and easily invest in the digital asset.
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You can also consider moving towards crypto trading and enjoy its benefits. One of the safest and best exchanges for new traders is PrimeXBT Covesting.
The CEO of MicroStrategy, Michael Saylor, has been known to support the flagship crypto asset, even when its price took a serious hit last month.
Saylor has spoken in favor of the crypto asset once again and has claimed that BTC is far better than gold. Despite the volatility of Bitcoin it is still the largest cryptocurrency in the world and has greatly benefitted investors and traders.
Has Bitcoin Outperformed Gold?
Bitcoin is a significant digital asset that has piqued the interest of numerous individuals, companies and organizations all around the world. It is an unpredictable asset, as is the overall crypto market, however its growth and prominence cannot be overlooked.
It has been purchased in large amounts by major companies such as Tesla, MicroStrategy and Square as well as Bitcoin Whales. It has also been adopted as a legal tender by El Salvador, which also boosted its price.
Considering the advantages Bitcoin has extended to numerous companies, one can begin to wonder if this digital asset has outperformed gold? Michael Saylor, CEO of MicroStrategy, certainly seems to think so.
According to Michael Saylor, Bitcoin is the most appropriate investment tool for the people, especially considering the rising inflation. It has also been recently reported that MicroStrategy sold $1 billion worth of its Class A common stocks to raise funds and purchase more BTC.
Regarding this decision, Saylor stated:
“I think in the past 12 months, we have all been waiting for inflation, and I think we are seeing it now. I think investors are seeing that bitcoin is up by 330% and gold is up 7% in that period. So, bitcoin is outperforming gold as an inflation hedge by a factor of 50.
So, you are seeing Paul Tudor Jones and other early bitcoin believers thinking, ‘maybe it’s time for me to double or triple my allocation.’”
In short, according to Michael Saylor, BTC is 50 times better than gold. This can highlight the importance of the flagship crypto asset and increase opportunities for investors and traders. People who want to avail themselves of the opportunity and trade BTC should opt for a secure exchange such as ByBit.
Are You Looking to Invest in Crypto?
The MicroStrategy CEO has been known to be in favor of Bitcoin ever since his company started investing in the flagship crypto asset. Saylor himself has become one of the most prominent Bitcoin maximalists and has rarely been optimistic about any other altcoin.
However, in his recent interview with CNBC, Saylor made a few significant statements about Ethereum and said that ETH has a place in the ecosystem.
He also called the ETH network a “digital application” that aims to “dematerialize the JPMorgan building, the banking establishments, and all of the exchanges.”
If you are a potential investor and want to choose crypto to invest in, you should know such information. BTC and ETH are the top two digital currencies in the market and both offer numerous utilities and advantages to investors and traders.
However, the crypto asset you choose to invest in is a matter of personal preference. Regardless of the digital asset you choose, make sure you use a secure exchange, such as SwissBorg or Kraken, to invest safely and easily.
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