Former MicroStrategy CEO Michael Saylor predicted in a recent interview with Kitco that Bitcoin (BTC) would devalue gold over time. The American investor does not think that gold will be adopted as money in the 21st century. “Gold was coin for the 19th century,” he said.
The famous investor sees the largest cryptocurrency Bitcoin (BTC) as an institutional investment grade asset that will be adopted by major investors, regulators and legislators. He also predicts that a Bitcoin fund traded on a spot-based exchange will arrive in about a year.
Besides, Saylor claimed that traditional economists do not understand Bitcoin because they hate volatility:
“Volatility is the price you pay for performance. If you can’t stand the heat, you can’t be in the kitchen… I’d rather win volatilely than lose slowly.”
Speaking of the broader crypto market, Saylor thinks “a lot of bad behavior” has been eradicated. Still, he believes there are many unregistered securities.
Koinfinans.com As reported by Saylor, he recently stepped down as CEO of MicroStrategy in a shocking move. The announcement comes after the company lost nearly $1 billion in Bitcoin betting due to rapidly falling crypto prices.
Saylor has claimed that by taking on the role of chairman of the board, he wants to focus more on investing in the flagship cryptocurrency Bitcoin (BTC). In the most recent interview, the investor said it was “very clear” to shareholders that he is the heir to newly appointed CEO Phong Le. He also said, “We don’t run the company based on Bitcoin volatility.”
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.