For market analysts like Michael Saylor Kryptomon gold will sweep away, if the price of Bitcoin finally shoots up.
With disruptive products like Bitcoin comparisons are inevitable. Particularly since humans try to understand, what they are and how they work. And one of the most popular comparisons by analysts is that between Bitcoin and gold. For many crypto influencers, however, the outcome of the battle between BTC and the precious metal is clear. That is why Michael Saylor comments in today’s Tweet that Bitcoin will end up sweeping away the gold:
I agree with @APompliano that it is dangerous to think that gold and Bitcoin are similar and complementary investments. When the #Bitcoin dragon emerges from its lair, it will be the first to eat the kingdom of #Gold.
Why will the price of Bitcoin inevitably rise?
Bitcoin and Gold Who will win?
For years there has been a theory in the crypto world that presents Bitcoin as an active reserve of value. In other words, an asset with no direct correlation to the traditional financial market. Therefore, when this market collapses due to economic, political or social instability, the reserves maintain or even increase their price.
For this reason, market analysts have compared Bitcoin to the ultimate reserve, gold. They compare the characteristics of each and sometimes even call BTC the digital gold. Something that is not shared by gold advocates like Peter Schiff, for whom gold has a real value in the economy, but for whom Bitcoin is a purely speculative instrument.
For Michael Saylor, Bitcoin will sweep away gold because of its superior performance. Source: Anthony PomplianoFor Michael Saylor, Bitcoin will sweep away gold because of its superior performance. Source: Anthony Pompliano Anthony Pompliano
However, the arguments of Schiff and other cryptoskeptics have not affected the confidence of krypton users in the BTC. Many of them are convinced that the BTC will eventually strike gold if the price of Kryptomoney rises exponentially again like in 2017. An idea shared by Michael Saylor in his Twitter account:
„I agree with @APompliano that it is dangerous to think that gold and Bitcoin are similar and complementary investments. When the Bitcoin dragon comes out of its burrow, it will be the first to eat the kingdom of gold.
In this way, Saylor agrees with an article by Anthony Pompliano in which Crypto Influence defends the superiority of Bitcoin over gold. He predicts that Bitcoin will eventually sweep away gold in the near future and become the most valuable asset in the world.