Saylor is a well-known Bitcoiner who talks about Bitcoin’s advantages over gold, stocks, and traditional currencies.
Michael Saylor, CEO and co-founder of MicroStrategy and a major Bitcoin investor, has been vocal in his support of the first cryptocurrency on x (Twitter). This time around, he compared Bitcoin to other assets and praised its strength as a store of wealth in his tweet.
Saylor wrote on X/Twitter, “Bitcoin is for people who can’t afford to lose their money.” Saylor shown in the accompanying animated graphic that the proportion of original Bitcoin value to Bitcoin has remained constant at 100% after the half that occurred in 2016 (the second halving event in Bitcoin’s existence).
As a result, Michael Saylor said that it has been an ideal store of wealth when contrasted with its competitors, which include gold, the S&P 500, American real estate, the US dollar, and three other fiat currencies (although used in nations with problematic economies): the Argentine peso, the Turkish lira, and the Nigerian naira.
The Bitcoin advocate Michael Saylor is in charge of MicroStrategy, which stated in April that it had acquired 122 more BTC. Buying those Bitcoins for $63,934 cost the business intelligence firm almost $7.8 million.
The present value of the 214,400 bitcoins held by the corporation is an astounding $5.68 billion. The price of the biggest cryptocurrency in the world has fallen dramatically during the last month, falling from $72,450 to its current level of $58,150.
Following news of Binance’s CZ’s four-month jail term and the arrests of “Bitcoin Jesus” Roger Ver for tax evasion in Spain and Hong Kong, Bitcoin’s value dropped by almost 10% in the last day. On the first day of trading, among other crucial considerations, Bitcoin-Ethereum ETFs fell short of traders’ expectations.