“Michael Saylor Tweets About Bitcoin Surpassing Gold and Bonds” – U.Today

U.Today – Michael Saylor, a well-known permabull and co-founder of the MicroStrategy juggernaut known for stacking BTC, recently took to Twitter to emphasize Bitcoin’s outstanding performance, which has far surpassed that of leading assets in traditional financial markets.

Bitcoin’s impressive gains

In a tweet, Bitcoin proponent Saylor shared a chart illustrating Bitcoin’s superior annual performance compared to other top assets. Since August 2020, when MicroStrategy made its initial Bitcoin purchase, Bitcoin has consistently shown higher annual gains than traditional markets. As of September this year, BTC has seen annual gains of 51%. Following Bitcoin are the Magnificent 7 stocks index, which includes giants like Amazon, Microsoft, Apple, and Tesla, with a 27% increase, the S&P 500 with a 14% rise, real estate with a 10% increase, and gold with a 7% increase. Bond markets, however, have seen a decline of 4%.

Saylor celebrated Bitcoin’s success with a tweet proclaiming, “Bitcoin is winning.”

Bitcoin resurgence

In recent days, the leading cryptocurrency has surged by 5.32%, climbing from $62,850 to $66,340, before experiencing a slight dip to $65,816, where it currently trades. Since last Wednesday, Bitcoin has witnessed a more than 10% increase, starting from $59,410 after the Federal Reserve announced a 50 basis point interest rate cut for the first time in four years. This initial spike was further fueled by similar announcements from the Central Bank of China and news of BlackRock purchasing a substantial amount of Bitcoin. In the past four days, its spot Bitcoin ETF, IBIT, has seen a total of $388.19 million in consecutive inflows.

Additional Insight

Bitcoin’s resilience in the face of recent economic uncertainties and market fluctuations underscores its growing importance as a safe-haven asset and a hedge against inflation. The increasing institutional interest in Bitcoin, as evidenced by major companies adding it to their balance sheets, further solidifies its position as a digital store of value. As more institutional investors and corporations recognize Bitcoin as a legitimate asset class, its upward trajectory is likely to continue, outperforming traditional financial markets and continuing to attract both retail and institutional investors.