MicroStrategy executive chairman Michael Saylor predicted that Bitcoin will “eat gold” in the coming months because it is a far superior asset in every way.
The MicroStrategy chair made the statement during a CNBC interview on March 11, where he added that Bitcoin was not only superior to gold but all conventional assets, including real estate and stocks.
According to Saylor:
“Bitcoin is competing with gold. It’s going to eat it.”
Superior asset
Saylor said that, at the very least, Bitcoin should be considered “digital gold” to describe its role as a store of value. However, he added that Bitcoin has all the best attributes of gold and none of the defects.
Saylor also commented on the fact that Bitcoin, unlike gold, can be transferred digitally. He said:
“If you could teleport gold from New York to Tokyo in a few minutes, people would like it.”
Saylor noted that Bitcoin has key advantages over other assets, including equity, bonds, and real estate. Specifically, he sa
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