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

MicroStrategy founder and Chairman Michael Saylor has reiterated his belief in Bitcoin’s superiority over gold as the cryptocurrency continues to break new ground. His latest statements come in the wake of BlackRock’s Bitcoin ETF achieving record growth, surpassing their gold ETF’s 20-year milestone in less than a year.

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 remarkable success, amassing $57.8 billion in assets under management (AUM) within its first year.

By comparison, BlackRock’s gold ETF, iShares Gold Trust (IAU), required 20 years to reach $33 billion in AUM. This rapid adoption underscores a shift in investor preference toward digital assets over traditional commodities like gold.

MicroStrategy founder Michael Saylor has emphasized the unprecedented pace at which Bitcoin ETFs are growing, attributing it to Bitcoin’s qualities as a superior store of value. “Digital gold is better than physical gold,” Saylor stated in a post on X, noting the increasing preference for Bitcoin as an inflation hedge and a long-term asset.

In the last two weeks, over $5.5 billion flowed into Bitcoin ETFs, with IBIT leading inflows of 500,000 BTC. This surge in institutional demand has solidified BlackRock’s position as a dominant player in the cryptocurrency ETF market.

U.S. Bitcoin Supply Declining Amid ETF Growth

The growth of Bitcoin ETFs has coincided with a decline in Bitcoin held on exchanges. This trend suggests a shift toward longer-term holdings, as institutional and retail investors continue to embrace Bitcoin ETFs.

On December 17 alone, IBIT saw inflows of $740 million, contributing to the $493 million total inflows across all Bitcoin ETFs that day.

Michael Saylor has been a vocal advocate for such trends, urging governments and institutions to adopt Bitcoin as a strategic reserve asset. He argued that the U.S. under President elect Donald Trump who is pro crypto should replace its gold reserves, which account for 72% of its financial reserves, with Bitcoin. Saylor stated,“Dump your gold, sell all the U.S. gold, and buy Bitcoin because it will rise to trillions of dollars.”

Concurrently, CryptoQuant CEO Ki Young Ju also urged South Korea’s need for a Bitcoin strategic reserve. “The KRW-USD exchange rate is about to hit a 15-year high,” he noted on X, referencing past economic challenges.

“During the 1998 IMF bailout, we survived through a gold-collecting campaign. Looks like we might need a digital gold-collecting campaign this time. South Korea is the country that needs #Bitcoin strategic reserve the most.”

Ethereum ETFs Also Gain Momentum

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

MicroStrategy founder Michael Saylor has primarily focused on Bitcoin but acknowledged the growth of other digital assets like Ethereum, which are also seeing rising adoption. Despite this, he continues to champion Bitcoin as the premier digital asset for long-term investment. Meanwhile, at press time, BTC price was trading at $104,366k a 3.56% decline from the new all time high set of $108,268k.

Concurrently, Michael Saylor has previously predicted that Bitcoin’s market capitalization could eventually reach $280 trillion, far surpassing gold’s current market cap of $45 trillion. Consequently, MicroStrategy, under Saylor’s leadership, has steadily increased its Bitcoin holdings, now owning over 402,100 BTC valued at approximately $40 billion.