- Michael Saylor said BTC is a bank in cyberspace offering secure savings accounts.
- Dogecoin founder opposed, saying BTC allows people to lose money via gambling.
- Goldman Sachs ranked BTC above US Treasury, Gold, and 22 other assets.
Michael Saylor, the chairman of MicroStrategy, one of the leading institutions holding crypto, describes Bitcoin (BTC) as a bank in cyberspace offering secure savings account to billions of people who have no option or desire to run their hedge fund.
Saylor expressed this sentiment yesterday on Twitter in his usual daily commentary about the goodness of the Bitcoin revolution, pushing for more adoption. Interestingly, Billy Markus, the founder of the meme Dogecoin (DOGE), opposed the view of Saylor. Markus believes BTC allows billions of people to lose their money via gambling.
A few days back, the MicroStrategy chairman shared a chart from a data analytic firm illustrating how Bitcoin led traditional stocks by a significant margin from when the company adopted BTC in 2020.
On the chart, BTC had over 85% growth in the past three years, compared to Nasdaq at 2%, and gold, silver, and bonds which all had negative growth since then.
Furthermore, according to a recent year-to-date asset return by Goldman Sachs, one of the most prominent financial institutions in the United States, Bitcoin was the best-performing asset in the world. Goldman Sachs ranked Bitcoin above crude oil, real estate, 10-year US Treasury, energy, and 21 other investment instruments.
According to CoinMarketCap data, Bitcoin has lost over 65% of its value since January 2022. Nonetheless, the coin has had consistent growth in recent weeks, increasing by over 27% from its two-year low of $15k last November. BTC currently trades at $23,011.7, with a market share of over $441 billion.
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