Michael Saylor Predicts Capital To Flow From Gold to Bitcoin Amid Tariff Rumors
Highlights
- Michael Saylor expects a migration of capital from gold to Bitcoin if the tariffs on gold imports happen.
- The Strategy suggested that Bitcoin is the best asset to hold as it has the lowest risk.
- Metaplanet President Simon Gerovich also made a case for BTC amid the rumored gold tariffs.
Strategy founder Michael Saylor has raised the possibility of investors ditching gold for Bitcoin amid rumors that the U.S. could impose tariffs on imports of the precious metal. The Strategy founder also made a case for why the flagship crypto is the safest asset to hold rather than the metal.
Michael Saylor Predicts Capital Migration From Gold To Bitcoin
In a Bloomberg interview, the Strategy founder remarked that the tariffs could accelerate the migration of capital from gold to Bitcoin, which market participants usually describe as ‘digital gold.” He noted how, unlike the precious metal, the flagship crypto cannot be subject to tariffs, since there is no physical version of it and that it “lives in cyberspace, where there are no tariffs.”
Michael Saylor said that this is a major appeal of Bitcoin since it is not physical and doesn’t have weight. He added that investors can easily settle BTC transactions anywhere and in minutes. Meanwhile, gold, on the other hand, is too “heavy” and too “slow.”
The Strategy founder then remarked that the rumored gold tariffs remind everyone why Bitcoin, as a digital version, is better than the precious metal itself. He stated that this could catalyze a new wave of institutional adoption.
Interestingly, his comment follows Legendary trader Peter Brandt’s prediction that Bitcoin will emerge as the ultimate store of value and not gold. He noted that some see the precious metal as a great store of value, but that BTC will prove to be the ultimate store of value.
Metaplanet President Makes Case For BTC
Metaplanet President Simon Gerovich also made a case for Bitcoin while alluding to the rumored gold tariffs. He stated that gold is heavy, slow, and political. On the other hand, he remarked that BTC is “light, fast, and free.”
Like Saylor’s Strategy, Gerovich’s Metaplanet is also a Bitcoin treasury company. The Japanese company recently acquired $53.7 million in Bitcoin, bringing its total holdings to 17,595 BTC, worth approximately $1.78 billion.
Meanwhile, despite the rumors of the gold tariffs, the Bitcoin price has traded sideways today and is down less than 1% in the last 24 hours. Meanwhile, gold futures had hit an all-time high (ATH) on the back of the report that the U.S. will tax gold bar imports.
- Pump.fun Rival Zora Rallies Over 30% Following Robinhood Listing
- Peter Brandt Lists XRP Among Shorts Amid Crypto Market Crash
- Fed’s John Williams Backs More Rate Cuts This Year Amid Labor Market Concerns
- Bitcoin Edges Higher as Fed Chair Jerome Powell Fails to Comment on Monetary Policy
- Flare Network Surpasses $43M in Bridged XRP, Expert Predicts Breakout to New ATH
- Dogecoin Price Outlook as $23M Leaves Exchanges—Is the Parabolic Phase Beginning?
- Pi Network Price Collapses as Analyst Proposes Turnaround Tweaks
- Solana Price Prediction as SOL DAT Company Plans 5% Supply Acquisition—Analyst Targets $1,300 Breakout
- Bitcoin Price Prediction as US Govt. Shutdown Extends- What’s Next for BTC?
- Solana Price Megaphone Points to a Parabolic Move as SOL Treasuries Near $3B
- XRP Price Prediction Amid ETF Approval Roadblock as Analyst Warns of $2.72 Dip
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
