This prediction was made in December 2017 by a crypto bull and departing MicroStrategy CEO Saylor.
Now, eight months later: Saylor warned during a Saturday interview with Stansberry Research that the precious metal will be “demonised” due to the emergence of cryptocurrencies, notably Bitcoin.
Given the cryptocurrency’s rapid rise in value, some investors think it may soon replace gold as a haven investment.
Bitcoin Is Anticipated To Outperform Gold As A Store Of Value
Despite the present market turmoil, top crypto investors assert that Bitcoin will conquer gold. Saylor said at a recent Yahoo Finance Live session that the only asset affected by bitcoin is gold.
Saylor referred to gold without equivocation: “The most prudent course of action would be to sell all $10 trillion in gold and invest in Bitcoin.” Gold is a mineral. Without question, it is the worst-performing asset. There is no chance of success.”
Saylor acknowledged that the currency’s path to replace gold would be defined by “highs and lows.” The billionaire said Bitcoin has a better chance of being adopted by more governments than gold.
American billionaire businessman and hedge fund manager Ray Dalio complies with Saylor. He disclosed in May of the previous year:
“I only own a little amount of bitcoin. Dalio said on CNBC Make It, “I’m not a major owner.” “To diversify your portfolio, you must acquire certain assets, and BTC is comparable to digital gold.”
Saylor thinks crypto, as opposed to gold, has a higher chance of becoming recognised as legal tender in various countries.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.