According to MicroStrategy CEO, Bitcoin offers benefits over gold

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Michael Saylor is one of the most outspoken proponents of Bitcoin. MicroStrategy, founded by Saylor, is one of the biggest Bitcoin holders, with over 125,000 coins. The CEO has now listed the top reasons he believes Bitcoin has more advantages than gold.

The CEO of MicroStrategy remains optimistic about Bitcoin

Saylor claimed that organizations with Bitcoin on their balance sheet had seen significant benefits. He does not regret selecting Bitcoin (BTC/USD) over gold during the Bitcoin 2022 event, which began on April 6.

James Seyffart of Bloomberg Intelligence mentioned Saylor’s comments at the recent Bitcoin event. He observed that Saylor had stated that if MicroStrategy had chosen Bitcoin for gold, the firm’s financial condition would have been significantly different.

MicroStrategy would have invested in gold, resulting in $250 million in gold reserves, but the government would have missed out on the $4 to $5 billion profit the business is presently investing in, according to Saylor.

Bitcoin giảm gần 10.000 USD chỉ trong 1 giờ | VTV.VN

If I had picked gold instead when I bought Bitcoin, we would probably have about $250 million in gold. And our shareholders would have missed out on $4 or $5 billion,” according to the tweet.

Digital currencies, according to Saylor, do not pose a danger to the US currency. Moreover, he went on to say that there was an advantage to cryptocurrency adoption. According to the CEO, Bitcoin is more of a property, while the US dollar is the favored money in all countries.

Saylor is a Bitcoin supporter

Saylor is a big proponent of Bitcoin. The CEO began by comparing Bitcoin to digital gold, claiming that the capped supply of Bitcoin was akin to that of gold. Saylor has also spoken out against a prohibition on the proof-of-work consensus.

Saylor compares the prohibition of PoW to the prohibition of digital property. He said that Bitcoin’s Proof-of-Work consensus was cost-effective to transform energy into wealth. Saylor’s argument comes amid an increasing backlash against the PoW consensus. In the previous month, European legislators rejected a plan prohibiting PoW mining.

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