Michael Saylor Issues Epic Bitcoin Statement as Price Rebound Underway

MicroStrategy cofounder and Bitcoin advocate Michael Saylor has again issued an epic statement about the digital asset. The ambitious statement was shared on the social media platform X and supported with a bar graph detailing the performances of different assets.

Michael Saylor’s bullish Bitcoin stance

Notably, Saylor, in his characteristic bullish view on Bitcoin, stated: “Bitcoin is the only way to get ahead.”

#Bitcoin is the only way to get ahead. pic.twitter.com/08jMFa1M9l

— Michael Saylor⚡️ (@saylor) July 22, 2024

As he has always emphasized, the statement reaffirms his strong belief in the digital asset as a cure to economic ills. His recent statements come amid the rebound in the price of BTC in pursuit of the $68,000 price mark.

This occurred particularly as BTC is recording positive rebounds in recent days, as it seems to have successfully weathered the bearish storm resulting from the German government’s flooding of the market.

Furthermore, Saylor buttressed his epic statement with an annualized rate of return for six asset classes. These include Bitcoin, S&P 500, Nasdaq, gold, silver and bonds. This graph shows the returns accruing to these asset classes since Aug. 10, 2020, when MicroStrategy adopted its massive accumulation Bitcoin strategy.

Based on performance, Bitcoin has recorded a 55% surge in performance, surpassing both the S&P 500 and Nasdaq by over four times, as both recorded 13% each. Gold came in a distant fourth with just 5% and silver 2%. Bonds, however, recorded a 5% negative figure.

Reasons behind MicroStrategy’s aggressive Bitcoin accumulation

The annualized returns reveal consistency in the world’s largest cryptocurrency as it maintains steady growth despite its volatility, which critics have always held onto. For instance, Bitcoin’s nemesis Peter Schiff remains bearish on the digital asset, urging investors to embrace gold. The data shared by Saylor shows that gold pales in comparison to Bitcoin in positive performance.

Given MicroStrategy’s aggressive Bitcoin accumulation approach, the company currently holds 226,331 BTC valued at $7.538 billion and remains one of the largest holders of the digital asset.

The accumulation has been fueled by Saylor’s philosophy of, “If it is not Bitcoin, your money is melting.” Meanwhile, Saylor remains positive about the BTC price, as he recently stated in his Bitcoin to the Moon post.

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