MicroStrategy cofounder and Bitcoin advocate Michael Saylor has once more issued an epic assertion concerning the digital asset. The bold assertion was shared on the social media platform X and supported with a bar graph detailing the performances of various belongings.
Michael Saylor’s bullish Bitcoin stance
Notably, Saylor, in his attribute bullish view on Bitcoin, acknowledged: “Bitcoin is the one approach to get forward.”
#Bitcoin is the one approach to get forward. pic.twitter.com/08jMFa1M9l
— Michael Saylor⚡️ (@saylor) July 22, 2024
As he has all the time emphasised, the assertion reaffirms his robust perception within the digital asset as a treatment to financial ills. His latest statements come amid the rebound within the value of BTC in pursuit of the $68,000 value mark.
This occurred significantly as BTC is recording optimistic rebounds in latest days, because it appears to have efficiently weathered the bearish storm ensuing from the German authorities’s flooding of the market.
Moreover, Saylor buttressed his epic assertion with an annualized charge of return for six asset lessons. These embody Bitcoin, S&P 500, Nasdaq, gold, silver and bonds. This graph reveals the returns accruing to those asset lessons since Aug. 10, 2020, when MicroStrategy adopted its large accumulation Bitcoin technique.
Primarily based on efficiency, Bitcoin has recorded a 55% surge in efficiency, surpassing each the S&P 500 and Nasdaq by over 4 occasions, as each recorded 13% every. Gold got here in a distant fourth with simply 5% and silver 2%. Bonds, nevertheless, recorded a 5% unfavorable determine.
Causes behind MicroStrategy’s aggressive Bitcoin accumulation
The annualized returns reveal consistency on the earth’s largest cryptocurrency because it maintains regular progress regardless of its volatility, which critics have all the time held onto. As an example, Bitcoin’s nemesis Peter Schiff stays bearish on the digital asset, urging buyers to embrace gold. The info shared by Saylor reveals that gold pales compared to Bitcoin in optimistic efficiency.
Given MicroStrategy’s aggressive Bitcoin accumulation strategy, the corporate at the moment holds 226,331 BTC valued at $7.538 billion and stays one of many largest holders of the digital asset.
The buildup has been fueled by Saylor’s philosophy of, “If it’s not Bitcoin, your cash is melting.” In the meantime, Saylor stays optimistic concerning the BTC value, as he lately acknowledged in his Bitcoin to the Moon submit.