CRYPTONAIRE
WEEKLY CRYPTO investment journal
Michael Saylor Says Gold Is Dead Money, Predicts Mass Migration to Bitcoin
MicroStrategy’s Michael Saylor is predicting that the majority of investors will dump gold in the coming years in favor of Bitcoin, leaving the yellow metal for dead. In an interview with Andrew Henderson of Nomad Capitalist, the CEO of the world’s largest publiclytraded business intelligence firm says the $10 trillion gold market will be decimated as troves of investors opt to store their wealth in BTC. Saylor warns investors not to be the last ones to get out of, what he views as, a dying asset. “Gold is dead money. Sell your gold, buy Bitcoin because other people are going to sell their gold and if you wait until you’ve been front-run by all the hedge funds when they dump their gold, you’re going to be the last person out. I think gold is getting demonetized… There’s $10 trillion worth of monetary energy in gold right now. Eventually, it will only be the central banks that will want to hold it. Every private rational actor is going to move out of it and move into Bitcoin.” The brains behind the business intelligence behemoth cites gold’s poor performance during a period that it should be skyrocketing as evidence that the precious metal’s best days may be behind it. Read more...
Cryptonaire Weekly | February 2nd 2021
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