Bitcoin billionaire Michael Saylor says BTC dominates Gold, S&P and Nasdaq and announces he will buy Bitcoin Top Forever
Co-founder and CEO of business analytics firm MicroStrategy, Michael Saylor, remains bullish on bitcoin over the long term despite a bleak macro backdrop.
In a new Fox News interview, Saylor says the top crypto asset is the “safest thing” in a world faced with many uncertainties.
“In a market full of chaos and noise and anger, people need a safe place where they can stay away from intervention by any government, agency or company. Bitcoin represents a fair, open, and equal network with a very simple promise to anyone who wants to join: what you own is yours and no one will take it away from you.”
Saylor’s comments come after Bitcoin has lost almost 60% of its value from its all-time high of $69,000. At the time of writing, BTC is exchanging hands at $29,650.
The head of MicroStrategy also highlights the fact that despite Bitcoin’s poor performance over the past few months, BTC is up more than three times since the pandemic began.
“There isn’t an easy place to hide in these markets right now. All indices are in bear market territory. Bonds are not a safe haven as they are currency derivatives. Stocks need to grow their cash flows faster than the rate of inflation.
But if you zoom out two years since the start of the Covid crisis, the US money supply has grown by 36%. Gold is up 7%. The S&P index is up 29%. The Nasdaq is up just 19%. Bitcoin is up 229% so if you can take the volatility think long term you have a safe haven there.”
Saylor says he and his company will continue to buy more BTC regardless of the price.
“Whenever I have some money left, we buy more bitcoin. We see this in the very, very long term. The network keeps getting better. Acceptance improves. Very constructive regulation is coming out of DC, and the Lightning Network brings us closer to Satoshi’s promise to let all people in the world trade fairly and equitably with each other at the speed of light…
I will shop above forever. The maximalists believe that Bitcoin is a tool of economic empowerment. I’m not trying to time the market.”
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