As a seasoned investor with over three decades of experience in traditional markets and the nascent crypto landscape, I have learned to appreciate the nuances that set each asset class apart. Bitcoin, for all its controversy and skepticism from the likes of Peter Schiff or Warren Buffet, has captured my attention and admiration.
Despite growing popularity, Bitcoin (BTC) remains a subject of skepticism for many experts such as Peter Schiff and Warren Buffett, who question both its purpose and validity, even as institutions like BlackRock and Franklin Templeton take notice.
Detractors argue that Bitcoin doesn’t deserve to be seen as a store of value like gold, nor should it be labeled “Gold 2.0,” because it exhibits significantly higher volatility than conventional investments. Consequently, while its usage is on the rise, Bitcoin is often viewed as a speculative asset or even a risky bet in the financial world.
Saylor does not agree
In contrast, Michael Saylor, head of MicroStrategy and a renowned Bitcoin advocate, firmly believes that cryptocurrency serves as an ideal form of value storage and could potentially be referred to as “the currency of tomorrow.”
In a recent post on social network X he decided to debunk the opinion that volatility is a flaw of Bitcoin. Saylor posted a chart showing how MicroStrategy’s MSTR stock skyrocketed nearly 1,000% after the company adopted BTC four years ago.
Bitcoin’s volatility is a feature, not a bug.
— Michael Saylor⚡️ (@saylor) August 10, 2024
As an analyst, I find it intriguing to note that Bitcoin’s growth rate over this period was a substantial 408%, while the S&P 500, a key indicator of the U.S. stock market, has only managed a 59% increase since August 2020. This suggests a significantly higher return on investment for those who chose Bitcoin during this timeframe compared to the broader U.S. equities market.
The chart was supported by the comment, “Volatility equals vitality,” highlighting Saylor’s belief that Bitcoin’s instability is an advantage instead of a drawback. Furthermore, he asserted, “Bitcoin’s volatility is a characteristic, not a flaw,” contradicting the common notion that volatility diminishes the cryptocurrency’s worth.
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2024-08-11 15:15