MicroStrategy CEO Says Flow of Money From Conventional Assets Into Bitcoin Not a Bubble

By Godfrey Benjamin
Published December 24, 2020 Updated December 24, 2020
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MicroStrategy CEO Says Flow of Money From Conventional Assets Into Bitcoin Not a Bubble

By Godfrey Benjamin
Published December 24, 2020 Updated December 24, 2020

Bitcoin activist and the CEO of Nasdaq-listed MicroStrategy, Michael Saylor believes that the flow of money from real-world conventional assets into Bitcoin (BTC) is neither a bubble nor a rally but a chain reaction. The now trending CEO, due to his company’s massive investments in Bitcoin stated this on Twitter, in his usual bid to advocate for the adoption of Bitcoin.

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Saylor noted that the flow of money from conventional assets into BTC is significantly driven by the increasing risk of global currency devaluation, been fueled by the continuous rollout of COVID-19 stimulus packages. These stimulus reliefs are meant to be funded with more printed fiat notes, causing excessive circulation of the currencies, thus sending in the inflationary spike. Per Saylor’s beliefs, this trend is not ending anytime soon.

From Saylor’s own words;

“Money is flowing out of conventional assets into #Bitcoin due to the escalating risks of global currency devaluation, technology disruption, social dislocation & political uncertainty.  This is not a “rally” or “bubble” – it’s a chain reaction spreading like a fire in cyberspace.”

Insistent Bullish Calls on Bitcoin May Be Inciting Investors To Ditch Gold

Market analysts and pro-Bitcoin investors such as Michael Saylor has been making insistent bullish calls on Bitcoin and its prospects, a move that appears to be attracting more retail and institutional investors to pump liquidity into the digital asset that has rallied at least 215% in the past year.

Among these bullish calls came from the multinational investment bank, JPMorgan Chase & Co, noting that Gold, the most compared real-world asset competing with Bitcoin, will likely suffer for years because of the rate of adoption as well as the growth of BTC. Calls like this have made prominent Gold investors convert their assets to take a position with Bitcoin. Besides the individual investors ditching gold for BTC, institutional investors have also been observed to dump Gold Exchange Traded Funds (ETFs) to buy up Bitcoins.

While Michael Saylor believes the current adoption rate of Bitcoin is going to be here for a very long time, renowned Bitcoin critic and Gold activist Peter Schiff believes that the BTC bubble will soon be over, and when that happens, Gold will eventually win.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Godfrey Benjamin
146 Articles
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

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