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Prominent Bitcoin Advocate Michael Saylor Highlights Bitcoin’s Superior Performance

Renowned Bitcoin advocate and chair of MicroStrategy Inc., Michael Saylor, recently shared a chart on March 23 showcasing Bitcoin’s outstanding performance compared to traditional assets like the S&P 500, Nasdaq, gold, silver, and bonds.

Saylor used this opportunity to emphasize Bitcoin’s dominance in the investment landscape.

The chart revealed that Bitcoin has surged by an impressive 432% during the specified period, surpassing the 56% growth of the S&P 500 and the 50% increase of the Nasdaq.

On the other hand, silver and bonds saw significant declines of 13% and 19% respectively, while gold reported a modest gain of 7%.

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ÔÇÿVolatility is VitalityÔÇÖ – Michael Saylor’s Perspective

Following Bitcoin’s meteoric rise to a record high of $73,797 on March 14, the digital currency experienced a subsequent decline of almost 12%, sparking discussions within the crypto community.

Saylor, a staunch supporter of Bitcoin, took to social media to share his views on market volatility.

He emphasized that volatility signifies “vitality,” arguing that fluctuating prices are essential to the market’s dynamics and should be viewed as a natural phenomenon rather than a cause for concern.

MicroStrategy’s Ongoing Commitment to Bitcoin

Under Saylor’s leadership, MicroStrategy has reaffirmed its dedication to Bitcoin by significantly increasing its holdings.

In a recent announcement, the company disclosed the acquisition of over 9,000 BTC between March 11 and 18, funded through a combination of convertible senior notes offerings and company cash reserves.

This latest purchase follows a successful private offering, raising $603.75 million, allowing MicroStrategy to enhance its Bitcoin treasury reserves to approximately 214,246 BTC at an average price of $35,160 per Bitcoin.

Economist Peter Schiff Raises Concerns About Bitcoin Investments

Despite Saylor’s optimism towards Bitcoin, economist Peter Schiff, known for his skepticism towards cryptocurrencies, expressed apprehensions regarding Saylor’s approach to Bitcoin investments.

Following MicroStrategy’s latest BTC acquisition, Schiff highlighted the high-risk nature of aggressive Bitcoin accumulation, citing the volatile characteristics of digital currencies as a potential risk.

Schiff warned of potential market downturns after Saylor’s extensive buying activity, suggesting that the market could face a significant decline.

He projected potential losses for MicroStrategy, indicating that if Bitcoin’s price fell to $20,000, the company could incur losses amounting to $3.25 billion, rising to $5.5 billion at a price of $10,000.

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