MicroStrategy CEO advises to sell $10 trillion of gold and buy BTC

Despite Bitcoin staying below the $50,000 zone and struggling hard to move up, Michael Saylor, the co-founder and head of MicroStrategy, continues making bullish statements about the king coin. It is said that the Bitcoins growth as an investment could lead to long-term Doom for the largest asset class in the world, gold.

Saylor talked about the recent Congressional hearing saying that the winner at the end of the discussion would always be Bitcoin. He added that the Buy Bitcoin, Dump Gold investment model has worked well for investors this year.

Saylor Called gold dead rock and said that one should sell $10 trillion worth of gold to buy Bitcoin. This is not the first time that Saylor has taken sides with Bitcoin; before this, he also said that the Bitcoin ETF would soon replace gold ETF in the near future.

During the interview with Yahoo, the CEO said:

“The only thing that is threatened by bitcoin is gold. The best thing you could do is sell all $10 trillion of gold and buy bitcoin. Gold is a dead rock. It’s the worst-performing asset, bar none, no debate. There is no hope for it.”

MicroStrategy continuously tops up its Bitcoin bag

MicroStrategy is known for being pro-Bitcoin and has recently topped up its Bitcoin reserve by buying 7,002 more BTC. On Thursday, the company announced another purchase. Michael Saylor, in his tweet, said that MicroStrategy had shopped additional 1,434 Bitcoins for around $82 million in cash with an average price of $57,477 per coin. The company currently holds around 122,478 Bitcoins acquired with $3.66 billion with an average price of $29,861 per coin.

MicroStrategy has purchased an additional 1,434 bitcoins for ~$82.4 million in cash at an average price of ~$57,477 per #bitcoin. As of 12/9/21 we #hodl ~122,478 bitcoins acquired for ~$3.66 billion at an average price of ~$29,861 per bitcoin. $MSTRhttps://t.co/Xke8QhoYpy

— Michael Saylor⚡️ (@saylor) December 9, 2021

The renowned BTC critic Peter Schiff recently lashed out at MicroStrategy’s head, saying that he has wasted investors’ money. In contradiction, TheCoinRise published an article in 2019 about how one could have missed 44,400% of profits if they had listened to Peter Schiffs.