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Michael Saylor Makes Epic Statement About Bitcoin As Price Recovery Underway
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Microstrategy Bitcoin co-founder and proponent Michael Saylor has once again made an epic statement about the digital asset. The ambitious statement was shared on social media platform X and supported by a bar chart detailing the performance of several assets.
Michael Saylor’s Bullish View on Bitcoin
Notably, Saylor, in his signature bullish Bitcoin outlook, said, “Bitcoin is the only way forward.”
As he has always stressed, the statement reaffirms his firm belief that the digital asset is a cure for economic ills. His recent statements come as BTC price has recovered in pursuit of the $68,000 price.
This is especially true as BTC has been seeing positive rebounds over the past few days, as it appears to have successfully weathered the bearish storm resulting from the German governmentthe flooding of the market.
Additionally, Saylor backed up his epic claim with an annualized rate of return for six asset classes. These include Bitcoin, S&P 500, Nasdaq, gold, silver, and bonds. This chart shows the returns accrued for these asset classes since August 10, 2020, when MicroStrategy adopted its massive Bitcoin accumulation strategy.
In terms of performance, Bitcoin has seen a 55% increase in performance, outperforming both the S&P 500 and Nasdaq by more than four times, as they both posted 13% each. Gold came in a distant fourth with just 5% and silver 2%. Bonds, however, posted a negative figure of 5%.
Reasons Behind MicroStrategy’s Aggressive Bitcoin Accumulation
Annualized returns reveal the consistency of the world’s largest cryptocurrency, as it maintains steady growth despite its volatility, which critics have always latched onto. For example, Bitcoin’s nemesis Peter Schiff remains bearish on the digital asset, urging investors to embrace gold. Data shared by Saylor shows gold pales in comparison to Bitcoin in terms of positive performance.
Given MicroStrategy’s aggressive approach to Bitcoin accumulation, the company currently holds 226,331 BTC worth $7.538 billion and remains one of the largest holders of this digital asset.
The accumulation has been fueled by Saylor’s philosophy, “If it’s not Bitcoin, your money is melting.” Meanwhile, Saylor remains bullish on the price of BTC, as he recently stated in his Bitcoin on the Moon post.
About the author
Godfrey Benjamin
Godfrey Benjamin is a cryptocurrency journalist whose main goal is to inform everyone around him about the prospects of Web 3.0. His love for cryptocurrency began when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. Due to his vast experience in covering various aspects of Web3, Godfrey’s articles have been published on Blockchain.news, Cryptonews, and Coingape, among others.