'Bitcoin Winning,' Michael Saylor Tweets as BTC Leaves Gold and Bonds in Dust
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Michael Saylor, Bitcoin permabull and the co-founder of MicroStrategy juggernaut that stacks BTC, has published a tweet to highlight Bitcoin’s high performance, which has massively surpassed that of leading assets in conventional financial markets.
Over the past few days, digital gold has demonstrated an increase of more than 5%, reclaiming the $66,000 price mark.
Yuri MolchanBitcoin smashes gold and bonds by gains
Bitcoin evangelist Saylor shared a diagram to demonstrate Bitcoin’s excellence in annual performance over other top assets. According to Saylor’s post, since August 2020 (the month and year when MicroStrategy made its first Bitcoin purchase) Bitcoin has been showing annual gains much higher than traditional markets.
As of September this year, BTC shows annual gains of 51%. The second largest after it comes the Magnificent 7 stocks index (which includes such monsters as Amazon, Microsoft, Apple and Tesla) with 27%, followed by S&P 500 (14% rise), real estate (10% increase) and gold (7%). As for the market of bonds, it has entered the red zone, plunging by 4%.
Highlighting Bitcoin’s success, Saylor tweeted, “Bitcoin is winning.”
On Friday, Saylor reacted to Bitcoin recapturing $66,000 by publishing a tweet saying “Bitcoin is Storm-Proof.” He also responded to a tweet by a renowned investor Raoul Pal after Pal stated that his core crypto bets include SOL and DOGE. Saylor stated that “Bitcoin misses” Pal, to which the investor replied that while he still believes in Bitcoin 1,000%, he looks for assets that can bring large profits quickly, even if high risks are involved.
Bitcoin reclaims $66,000
Over the past two days, the world’s leading cryptocurrency has staged a 5.32% increase, soaring from $62,850 to the $66,340 level. However, that was followed by a marginal decline, which pushed Bitcoin down to $65,816, where it is changing hands at the time of this writing.
Since Wednesday last week, Bitcoin has added more than 10%, soaring from $59,410 after the Fed Reserve announced a 50 basis point interest rate cut first time in the last four years. This was the initial driver of the Bitcoin price, followed by a similar announcement by the Central Bank of China and BlackRock purchasing a mammoth amount of Bitcoin this week. In the past four days, its spot Bitcoin ETF IBIT has seen consecutive inflows of $388.19 million in total.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
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U.Today Editorial Team