‘Bitcoin Winning,’ Michael Saylor Tweets As BTC Leaves Gold and Bonds in Dust

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As a seasoned investor with a knack for spotting trends and understanding market dynamics, I’ve been closely observing the crypto space for over two decades now. My journey began during the dot-com boom, where I learned the hard way about internet stocks and the importance of diversification.

Michael Saylor, an ardent supporter of Bitcoin and one of the founders behind the Bitcoin-accumulating giant MicroStrategy, took to Twitter to emphasize that Bitcoin’s remarkable growth far outstrips the top performers in traditional financial sectors.

Over the last several days, I’ve noticed that my digital gold has surged by over 5%. It’s now back above the $66,000 mark, a testament to its enduring value.

Bitcoin smashes gold and bonds by gains

As per a diagram shared by Bitcoin advocate Saylor, it clearly showcases Bitcoin’s outstanding annual performance in comparison to other leading assets. According to his post, since August 2020 – the month when MicroStrategy initially invested in Bitcoin – Bitcoin has consistently yielded annual returns that significantly outperform traditional market investments.

This year up until September, Bitcoin has experienced a yearly growth of 51%. Following closely is the Magnificent 7 Stocks Index, with a rise of 27%, encompassing giants like Amazon, Microsoft, Apple, Tesla, and others. The S&P 500 also shows an increase of 14%, while real estate and gold have witnessed a 10% and 7% growth respectively. Conversely, the bond market has dipped by 4%.

Highlighting Bitcoin’s success, Saylor tweeted: “Bitcoin is winning.”

#Bitcoin is Winning.

— Michael Saylor⚡️ (@saylor) September 27, 2024

On a Friday, Saylor expressed his thoughts on Bitcoin reaching $66,000 by posting a tweet, “Bitcoin is Weather-Resistant”. In response to a tweet from well-known investor Raoul Pal, who mentioned that his main crypto investments were in SOL and DOGE, Saylor playfully commented, “Bitcoin misses you,” to which the investor responded that although he remains 1000% committed to Bitcoin, he seeks assets capable of generating substantial profits swiftly, despite their higher risk levels.

Bitcoin reclaims $66,000

Over the last two days, the leading global cryptocurrency has experienced a 5.32% surge, climbing from $62,850 to approximately $66,340. Subsequently, there was a minor dip that caused Bitcoin to drop to its current trading price of $65,816.

Over the past seven days, beginning from last Wednesday, Bitcoin has surged by over 10%, reaching a new high at around $59,410 following the Federal Reserve’s decision to reduce interest rates by 0.5% for the first time in four years. This rate cut served as the primary catalyst for Bitcoin’s price increase, which was further boosted by similar announcements from the People’s Bank of China and BlackRock investing a substantial amount of funds into Bitcoin this week. In just the past four days, the spot Bitcoin ETF (IBIT) has witnessed continuous inflows totaling $388.19 million.

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2024-09-28 11:02