MicroStartegy CEO Michael Saylor, who made an interview with Yahoo Finance Live after the last congressional hearing attended by the CEOs of famous cryptocurrency exchanges in the USA, shared his thoughts on Bitcoin and gold.
Saying that he will buy Bitcoin forever, the famous CEO announced that he bought 1,434 Bitcoins worth $82.4 million at an average price of $57,477 with his tweet yesterday.
Saylor, who has made a name for himself with Bitcoin purchases, stated that Bitcoin will win in the long run when comparing Bitcoin and gold.
Underlining that Bitcoin is seen as digital gold in the continuation of his interview, Saylor said that the rise of Bitcoin will continue and it will be a collapse for gold.
Sell Gold Buy Bitcoin Strategy Will Win!
Saylor, after making a “dead rock” analogy for gold, stated that the most correct behavior in the rising inflation environment is to sell gold and buy Bitcoin.
“The only thing Bitcoin threatens is gold. The best thing you can do is buy Bitcoin with the proceeds from selling all $10 trillion of gold.
Gold is a dead rock. There is no hope for gold.”
Bitcoin critic Peter Schiff, who was quick to criticize Saylor’s comments on gold and Bitcoin, accused Saylor of wasting investors’ money.
“You can personally invest in Bitcoin, but you are making a mistake. It is clear that you sank with the Bitcoin ship. It wouldn’t be a problem if it was just your own money that you threw in the trash. But you’re also wasting shareholders’ money. I advise MicroStrategy shareholders to abandon ship before it sinks.”
*Not investment advice.