UpdatesAug 28, 2022

Bitcoin will replace gold. The largest institutions will accept BTC, says Michael Saylor

In the opinion of the American investor, gold will not be accepted as money in the 21st century.

In a recent interview with Kitco, former MicroStrategy CEO Michael Saylor predicted that Bitcoin would demonetize gold over time. The American investor also does not believe that gold has been accepted as money in the 21st century. Saylor stated that "Gold was metallic money in the nineteenth century," he stressed. The BTC / USD exchange rate is consolidating around USD 24,400 over the weekend.

Gold will be demonetized by BTC over time, an American investor believes

  • Saylor believes that the largest cryptocurrency will become an institutional asset of an investment grade

  • He also claims that conventional economists don't understand Bitcoin because they hate volatility

  • An American investor recently stepped down as CEO of MicroStrategy shocking everyone

Saylor believes that the largest cryptocurrency will become an institutional investment grade asset that will be adopted by major investors, regulators and legislators. The investor predicts that a Bitcoin fund may appear on the stock exchange in a year's time.

Speaking of the broader crypto market, Saylor believes that "many bad things" have been "washed away." However, he emphasizes that there are still plenty of unregistered securities.

The American investor has recently resigned from the position of CEO of MicroStrategy, which was a big surprise for the entire market. The announcement came after the company lost around $ 1 billion in Bitcoin investment due to plunging cryptocurrency prices.

Saylor says he now wants to focus all his efforts on investing in the flagship cryptocurrency that is BTC. In a recent interview, the investor stressed that it was "very clear" to all shareholders that Phong Le, the newly appointed CEO, would be Saylor's heir.