March 26, 2024

Michael Saylor Highlights Bitcoin's Outperformance Since 2020

Michael Saylor underscores bitcoin's unparalleled performance compared to other major investment avenues.

Michael Saylor, the former CEO and Executive Chairman of MicroStrategy, recently took to the social media platform X to shed light on bitcoin's remarkable performance since August 10, 2020, juxtaposing it with the returns of various investment alternatives.

In his X post, Saylor emphasized that "bitcoin is winning", highlighting its staggering surge of 432% since August 10, 2020. In contrast, the S&P 500 yielded a modest 56% return, while the NASDAQ saw a mere 50% increase.

Conversely, traditional safe-haven assets exhibited lackluster performances during the same period. Gold delivered a meager 7% return, while both silver and bonds experienced negative returns of -13% and -19%, respectively.

Last week, Saylor reiterated his stance on the volatility of bitcoin in another X post, affirming that such dynamic price swings are intrinsic to the digital asset market's dynamics.

Saylor's bullish sentiment towards bitcoin dates back to 2020, where he heralded it as the vanguard of the digital transformation of capital. He firmly believes that bitcoin's value is underpinned by its primary utility of "capital preservation and appreciation".

In March 2024, bitcoin soared from $61,000 to a record-breaking high surpassing $73,000. Presently, the leading cryptocurrency is priced around $69,500. Bitcoin has witnessed an almost 35% surge in the past 30 days. The market capitalization of bitcoin now stands at an impressive $1.37 trillion.

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