MicroStrategy has been supporting Bitcoin for a really long time now and he continues to do so. His firm has been buying the digital asset despite the market volatility.
Bitcoin vs. gold
Saylor just posted a comparison between Bitcoin and gold and you can check it out below.
#Gold is down 10.5% in the same year #Bitcoin is up 332%. Gold has returned 0% per year in the same decade Bitcoin has returned 146% annually. Why do we still debate which is the superior store of value?
— Michael Saylor⚡️ (@michael_saylor) September 17, 2021
Someone hopped in the comments and said: “To be fair, I own both. Because Bitcoin could break, get banned, hacked, ect. Gold can’t break. Nothing to worry about in gold until 30 years from now asteroid mining. BTC you have to worry every day.”
Bitcoin is the only institutional-grade asset
Recently, in a new Bloomberg interview, Saylor says Bitcoin is in a league of its own.
“In the market, there are three things – there’s the blue-chip asset, the institutional-grade asset which is Bitcoin.”
He continued and explained the following:
“And if you want to buy something and hold it for 30 years, in lieu of a bond or a little of cash or other forms of credit, then Bitcoin is that commodity. Store of value. It’s in a class all by itself.
MicroStrategy buys more BTC
A few days ago, we revealed that the company bought even more BTC.
MicroStrategy has purchased an additional 5,050 bitcoins for ~$242.9 million in cash at an average price of ~$48,099 per #bitcoin. As of 9/12/21 we #hodl ~114,042 bitcoins acquired for ~$3.16 billion at an average price of ~$27,713 per bitcoin. $MSTRhttps://t.co/2ESbTy6ad7
— Michael Saylor⚡️ (@michael_saylor) September 13, 2021
Regarding BTC’s price today, at the moment of writing this article, BTC is trading in the green, and the king coin is priced at $48,418.63.