Bitcoin is engineered to win the Economic War – Michael Saylor

Michael Saylor

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Michael Saylor, the CEO of MicroStrategy is an ardent promoter of Bitcoin and no doubt a maximalist. In a post he made on Twitter, Saylor said that Bitcoin is engineered to win economic war. The Twitter post was accompanied by an performance chart from FactSet, showing how Bitcoin and other financial instruments have performed since August 10, 2020, when Microstrategy adopted its Bitcoin strategy. According to the chart, Bitcoin has performed better than S&P 500, Gold, Nasdaq, Bonds and Silver.

Gold can’t win

The data shows that gold, silver and bonds are in the negative region with gold down by -2%, while silver and bonds are down by -17% each. Nasdaq is up by 21%, S&P 500 have gained 27% while Bitcoin has gained 128% according to the data.

The June 3 tweet is just one in a series of tweets by Saylor showing his belief in Bitcoin as a store of value, even in adverse economic times.

On June 4, Saylor posted that “Gold can’t win. Bitcoin can’t lose,” comparing the two assets backed by traditional and non-conventional investors respectively.

You are going to wish you had bought more bitcoins

Saylor stated that you are going to wish you had bought more bitcoins, adding that Bitcoin is the solution to “broken money,” The Bitcoin Sapien further showed his preference for the digital currency by posting a video of Twitter owner, Elon Musk, where Musk said that “Pretty soon, $44 billion won’t be worth that much anyway.”

Saylor, who describes Bitcoin as the first digital commodity that is backed by the most powerful network, has been an advocate of stacking (holding) the cryptocurrency as a hedge against inflation. His company, MicroStrategy, is believed to own 140,000 bitcoins. The value of the coins in today’s market is about $4 billion. On April 4, 2023, Saylor’s MicroStrategy bought 1,045 BTC for $29.3 million. This was at a time when many investors were uncertain about the direction of the coin market.

Photo credit: Puck News

Author: Jofor Humani

Jofor is a crypto journalist with passion for investigative reviews.