Here's What Rival "Bitcoin Dragon" Will Eat First When It Spreads Its Wings: Microstrategy CEO

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Wed, 11/11/2020 - 11:10
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Yuri Molchan
CEO of Microstrategy believes that it is dangerous to believe that Bitcoin and gold are similar and complementary assets, while Dan Tapiero opposes this opinion
Here's What Rival "Bitcoin Dragon" Will Eat First When It Spreads Its Wings: Microstrategy CEO
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In a recent tweet, the head of Microstrategy business software giant, Michael Saylor, compared Bitcoin to a dragon that is about to emerge from its lair.

Saylor shared what enemy this dragon will eat first and that it is dangerous to equate BTC with traditional safe haven assets.

The "Bitcoin Dragon" emerging from its lair

Saylor nodded at Anthony Pompliano, saying that he agrees with Pomp that Bitcoin must not be thought of as gold.

They are not similar and complementary, he tweeted, and it is dangerous to think they are.

Further, he took to metaphors, calling Bitcoin an awakening dragon that will emerge from its lair soon and eat the "Kingdom of Gold" as its first task.

The cofounder of DTAP Capital, Dan Tapiero, opposed Michael Saylor on these points. In a comment, the investor wrote that he is bullish on Bitcoin but stated that Saylor's assessment of gold is off.

Michael, I will be going on @PompPodcast next week with @APompliano to discuss his note today. I am as bullish if not more bullish than you on #btc but your assessment of gold is off.

Related Largest Percentage of Bitcoin Addresses in the Money Since December 2017
Related
Largest Percentage of Bitcoin Addresses in the Money Since December 2017

Bitcoin sits steady at $15.469

In his recent tweet, German economist Holger Zschaepitz pointed at the current rise in global stocks due to the upcoming release of medicine that could prevent another global lockdown. However, China is seeing a tech stock sell-off.

Meanwhile, Zschaepitz points out that Bitcoin remains stable at the $14,400 level.

There is a great rotation from tech to value stocks which more exposed to econ growth. China tech sell-off. Bonds continue sell-off w/US 10y at 0.98%. Gold at $1881. #Bitcoin steady at $15.4k.

Previously, Michael Saylor tweeted that Bitcoin has been less volatile than the major market indexes, such as S&P 500, Nasdaq, Dow Jones and the shares of such giants as Facebook, Apple and Amazon.

He urged Bitcoin holders to stop apologizing for its volatility.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.