Michael Saylor Asserts Bitcoin’s Dominance Over Gold Amid BTC ETFs Milestone

MicroStrategy founder and Chairman Michael Saylor has reiterated his perception in Bitcoin’s superiority over gold because the cryptocurrency continues to interrupt new floor. His newest statements come within the wake of BlackRock’s Bitcoin ETF attaining report progress, surpassing their gold ETF’s 20-year milestone in lower than a 12 months.

Michael Saylor Asserts Bitcoin’s Dominance Over Gold

BlackRock’s BitcoiMichael Saylor Asserts Bitcoin’s Dominance Over Gold Amid BTC ETFs Milestonen ETF (IBIT) has seen outstanding success, amassing $57.8 billion in property underneath administration (AUM) inside its first 12 months.

By comparability, BlackRock’s gold ETF, iShares Gold Belief (IAU), required 20 years to succeed in $33 billion in AUM. This speedy adoption underscores a shift in investor desire towards digital property over conventional commodities like gold.

MicroStrategy founder Michael Saylor has emphasised the unprecedented tempo at which Bitcoin ETFs are rising, attributing it to Bitcoin’s qualities as a superior retailer of worth. “Digital gold is best than bodily gold,” Saylor said in a publish on X, noting the growing desire for Bitcoin as an inflation hedge and a long-term asset.

Within the final two weeks, over $5.5 billion flowed into Bitcoin ETFs, with IBIT main inflows of 500,000 BTC. This surge in institutional demand has solidified BlackRock’s place as a dominant participant within the cryptocurrency ETF market.

U.S. Bitcoin Provide Declining Amid ETF Progress

The expansion of Bitcoin ETFs has coincided with a decline in Bitcoin held on exchanges. This pattern suggests a shift towards longer-term holdings, as institutional and retail traders proceed to embrace Bitcoin ETFs.

On December 17 alone, IBIT noticed inflows of $740 million, contributing to the $493 million complete inflows throughout all Bitcoin ETFs that day.

Michael Saylor has been a vocal advocate for such developments, urging governments and establishments to undertake Bitcoin as a strategic reserve asset. He argued that the U.S. underneath President elect Donald Trump who’s professional crypto ought to change its gold reserves, which account for 72% of its monetary reserves, with Bitcoin. Saylor said,“Dump your gold, promote all of the U.S. gold, and purchase Bitcoin as a result of it is going to rise to trillions of {dollars}.”

Concurrently, CryptoQuant CEO Ki Younger Ju additionally urged South Korea’s want for a Bitcoin strategic reserve. “The KRW-USD alternate charge is about to hit a 15-year excessive,” he famous on X, referencing previous financial challenges.

“Throughout the 1998 IMF bailout, we survived via a gold-collecting marketing campaign. Seems like we would want a digital gold-collecting marketing campaign this time. South Korea is the nation that wants #Bitcoin strategic reserve essentially the most.”

Ethereum ETFs Additionally Achieve Momentum

Ethereum-based ETFs, led by BlackRock’s ETHA, have equally gained traction. ETHA recorded $134 million in inflows on December 17, comprising 93% of the whole Ethereum ETF inflows that day.

MicroStrategy founder Michael Saylor has primarily targeted on Bitcoin however acknowledged the expansion of different digital property like Ethereum, that are additionally seeing rising adoption. Regardless of this, he continues to champion Bitcoin because the premier digital asset for long-term funding. In the meantime, at press time, BTC price was buying and selling at $104,366k a 3.56% decline from the brand new all time excessive set of $108,268k.

Concurrently, Michael Saylor has beforehand predicted that Bitcoin’s market capitalization might finally attain $280 trillion, far surpassing gold’s present market cap of $45 trillion. Consequently, MicroStrategy, underneath Saylor’s management, has steadily elevated its Bitcoin holdings, now proudly owning over 402,100 BTC valued at roughly $40 billion.