Digital Gold

<ul>
 <li><strong>Compared to BTC’s 147% rise from August 2020, the Nasdaq Composite’s 18% is second.</strong></li>
 <li><strong>Saylor reached his conclusion based on the prospects of competing alternatives.</strong></li>
</ul>
<p>MicroStrategy has placed a large wager on <a href="https://thenewscrypto.com/bitcoin-price-eyes-breaking-above-critical-30000-barrier/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a>, and the company’s founder and chairman, Michael Saylor, is not shy about praising the move. Saylor, using his twitter account, posted a comparison graphic highlighting the advantages of using Bitcoin as the X treasury reserve asset (TRA) compared to other major financial assets.</p>
<p>Bitcoin’s price has increased by 147% throughout that period. BTC obliterated the S&amp;P 500, an index that measures the performance of 500 equities traded on U.S. markets, by a wide margin.</p>
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 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> is Stronger. <a href="https://t.co/Pn5sphx6Mj" rel="noopener noreferrer nofollow">pic.twitter.com/Pn5sphx6Mj</a></p>— Michael Saylor <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@saylor) <a href="https://twitter.com/saylor/status/1715503855964758153?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 20, 2023</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<h3 class="wp-block-heading" id="h-banking-on-digital-gold">Banking on Digital Gold</h3>
<p>The <a href="https://www.investopedia.com/terms/s/sp500.asp" target="_blank" rel="noopener noreferrer nofollow">S&amp;P 500</a> has gained 26% from August until now. Compared to Bitcoin’s 147% rise from August 2020, the Nasdaq Composite’s 18% growth is second best. One of the reasons MicroStrategy is so bullish on Bitcoin is because it has been called “digital gold” and is frequently cited as a way to protect one’s wealth against inflation.</p>
<p>Gold bullion prices have fallen by 3%, silver by 19%, and bonds by 24% in comparison to Bitcoin’s performance. Saylor reached his conclusion based on the prospects of competing alternatives and said, “Bitcoin is stronger.”</p>
<p>When it comes to Wall Street firms, <a href="https://www.microstrategy.com/en" target="_blank" rel="noopener noreferrer nofollow">MicroStrategy</a> has been the most persistent Bitcoin bull. The corporation has been consistently adding to its Bitcoin holdings since August 2020, and most recently <a href="https://thenewscrypto.com/michael-saylor-led-microstrategy-purchases-5445-bitcoin-btc/" target="_blank" rel="noopener noreferrer nofollow">acquired</a> 5,445 BTC.</p>
<p>The corporation has now bought a total of 158,245 BTC for a total cost of around $4.68 billion, with the most recent purchase costing $147.3 million.</p>
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Michael Saylor Highlights BTC’s Performance Over Traditional Assets

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