Bitcoin has recently surged to $67,300, marking a significant 6% increase. Michael Saylor, the well-known Bitcoin advocate and co-founder of MicroStrategy, took to social media to share his bullish sentiment. He highlighted a diagram showing Bitcoin’s impressive growth of 460% over the past four years, which far outstrips the growth of traditional assets like the S&P 500 and Nasdaq, both of which increased by around 64%, and gold, which grew by 21%.
Saylor’s company, MicroStrategy, has been regularly accumulating Bitcoin, currently holding 226,331 BTC valued at over $7.5 billion. The latest purchase was made in June, with $700 million raised specifically to buy more Bitcoin through convertible senior notes. Earlier this year, they also raised $500 million in a similar manner.
Saylor’s enthusiasm was evident in his tweet: “If you’re not winning, you’re losing. #Bitcoin.” He believes Bitcoin will continue to outperform other assets, a sentiment not shared by everyone, particularly gold enthusiasts. However, Saylor’s data shows a strong case for Bitcoin’s dominance in the coming years.
The recent price jump was partially influenced by a global outage in Microsoft’s IT systems, illustrating Bitcoin’s resilience and growing importance as a digital asset. Currently, Bitcoin is trading slightly lower at $66,660.
