Michael Saylor Evaluates Last Congressional Hearing: Bitcoin Won!

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Michael Saylor once again compared Bitcoin and Gold, drawing attention to the long-term inflationary environment in the USA. Saylor also commented on the last congressional hearing, “Bitcoin Won”.

Speaking to Yahoo Finance Live, MicroStrategy CEO Michael Saylor shared his thoughts on the last congressional hearing. Saylor stated that the ultimate winner of the discussion was Bitcoin, and said that the strategy of sell gold and buy Bitcoin was also positive for investors in this period.

Saylor: Bitcoin Wins

MicroStrategy CEO Michael Saylor stated that the inflationary environment in the USA triggered the rise of the leading cryptocurrency Bitcoin. Saylor, meanwhile, used the term “a dead rock” for Gold.

Claiming that the best thing to do is to sell Gold and buy Bitcoin, Michael Saylor made the following statement in his claim:

“The only thing threatened by Bitcoin is gold. The best thing you can do is sell all $10 trillion of gold and buy Bitcoin. Gold is a dead rock. Arguably the worst performing asset. There is no hope for that.”

MicroStrategy Bought 1434 More Bitcoins

On Thursday, December 9, MicroStrategy announced that it has purchased an additional 1400-odd Bitcoins. In his last tweet, Saylor noted:

“MicroStrategy purchased an additional 1434 Bitcoins for $82.4 million at an average price of $57,477 per Bitcoin. As of 21.12.2021, we purchased 122,478 Bitcoins with an average price of $29,861 for a total of $3.66 billion.”

Reply from Peter Shciff

Pointing to global bitcoin acceptance and long-term inflation, Saylor said, “I’ve said this before, Bitcoin is going up forever.” However, Bitcoin critic Peter Schiff criticized these rhetoric, accusing Michael Saylor of wasting investors’ money:

“It is very clear that you went bankrupt with the Bitcoin ship. It wouldn’t be a problem if it was just your own money that you threw in the trash. But you’re also wasting shareholders’ money. I suggest MSTR shareholders leave the ship before it sinks.”

The information contained in this article does not constitute investment advice. Investors should know that cryptocurrencies carry risks due to their high volatility and should perform their transactions in line with their own research.