MicroStrategy Bets Big on Bitcoin Over Gold, Aims for Market Supremacy Amid Regulatory Shifts
March 11, 2024MicroStrategy's Michael Saylor predicts Bitcoin will overtake gold as the most valuable commodity.
MicroStrategy has increased its Bitcoin holdings to 205,000 tokens, valued at $14.7 billion.
Bitcoin's market capitalization has surpassed that of silver, ranking it as the eighth most valuable asset globally.
Bitcoin ETFs have quickly grown to half the value of gold ETFs, showing rapid market acceptance.
The anticipated Bitcoin halving event in April is expected to boost investor demand and potentially increase Bitcoin's price.
With a current trading price around $72,500, Bitcoin is seen by Saylor as a burgeoning structural asset class.
Former President Donald Trump suggests a potential softening of cryptocurrency regulations.
Summary based on 4 sources
Get a daily email with more Crypto stories
Sources
Seeking Alpha • Mar 11, 2024
Bitcoin will 'eat' gold, Michael Saylor saysCoinDesk • Mar 11, 2024
'Bitcoin Is Going to Eat Gold': MicroStrategy’s Michael SaylorCoinGape • Mar 11, 2024
Michael Saylor Says Bitcoin Will “Eat” Gold, Emerging as Top Asset, Price Surges Over $72k