{"id":11834,"date":"2021-09-07T11:54:03","date_gmt":"2021-09-07T11:54:03","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/microstrategy-avoids-multi-billion-dollar-mistake-by-choosing-bitcoin-over-gold\/"},"modified":"2021-09-07T11:54:03","modified_gmt":"2021-09-07T11:54:03","slug":"microstrategy-avoids-multi-billion-dollar-mistake-by-choosing-bitcoin-over-gold","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/microstrategy-avoids-multi-billion-dollar-mistake-by-choosing-bitcoin-over-gold\/","title":{"rendered":"Microstrategy Avoids \u2018Multi-Billion Dollar Mistake\u2019 by Choosing Bitcoin Over Gold"},"content":{"rendered":"

Nasdaq-listed company Microstrategy has avoided a \u201cmulti-billion dollar mistake\u201d by choosing to invest in bitcoin instead of gold. The company now holds about 108,992 bitcoins.<\/strong><\/p>\n

\u2018Multi-Billion Dollar Mistake\u2019 Avoided<\/h2>\n

The Nasdaq-listed software company Microstrategy has avoided making a mistake that could have cost the company multi-billion dollars. CEO Michael Saylor tweeted Sunday:<\/p>\n

If I had chosen gold instead of bitcoin last year, it would have been a multi-billion dollar mistake. It doesn\u2019t help to diagnose the problem if you don\u2019t choose the right solution.<\/p>\n

The CEO also posted the return of gold vs. bitcoin. According to his estimation, gold returned -5.88% during the past 12 months while bitcoin returned 376.34%. In addition, the return of gold vs. bitcoin was -80% during the last 12 month period.<\/p>\n

Gold\u2019s returns versus bitcoin. Source: Microstrategy.<\/p>\n

Microstrategy has made acquiring bitcoin one of its primary goals. The company now hodls<\/a> about 108,992 BTC<\/a>.<\/p>\n

Saylor said<\/a> earlier this year: \u201cGold is dead money. Sell your gold, buy bitcoin because other people are going to sell their gold and if you wait until you\u2019ve been front-run by all the hedge funds when they dump their gold, you\u2019re going to be the last person out.\u201d<\/p>\n

<\/p>\n

In April, Saylor and Frank Giustra debated<\/a> about bitcoin vs. gold. The Microstrategy CEO explained at the time that \u201cDiversification makes no sense when there\u2019s a cracked answer to an engineering problem.\u201d He opined: \u201cYou will never diversify the metal in an aircraft wing, or the answer to a math problem, or the shape of the ship\u2019s hull, or the oxygen content in a scuba tank. When the cabin depressurizes, you don\u2019t place an oxygen mask on 10% of your family. Money is a winner-take-all competition. There is an answer. Choosing the wrong answer has dire consequences.\u201d<\/p>\n

Investors have been increasingly buying bitcoin as an alternative to gold. A survey<\/a> by UBS, Switzerland\u2019s largest bank, finds that central bankers see benefits in investing in cryptocurrencies like bitcoin. Among respondents, 28% see cryptocurrency as an uncorrelated asset, and \u201c11% would consider it as an alternative to gold.\u201d<\/p>\n

What do you think about Microstrategy avoiding a multi-billion dollar mistake by choosing to invest in bitcoin instead of gold? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nFeatured, bitcoin v gold, Bitcoin vs gold, buy bitcoin over gold, michael saylor, microstrategy, multi-billion dollar mistake, nasdaq-listed<\/p>\n","protected":false},"excerpt":{"rendered":"

Nasdaq-listed company Microstrategy has avoided a \u201cmulti-billion dollar mistake\u201d by choosing to invest in bitcoin instead of gold. The company now holds about 108,992 bitcoins. \u2018Multi-Billion Dollar Mistake\u2019 Avoided The Nasdaq-listed software company Microstrategy has avoided making a mistake that could have cost the company multi-billion dollars. CEO Michael Saylor tweeted Sunday: If I had…<\/p>\n","protected":false},"author":0,"featured_media":11835,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-11834","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/11834"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=11834"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/11834\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/11835"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=11834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=11834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=11834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}