Bitcoin has 'all the great attributes & none of the defects' of gold: MicroStrategy's Michael Saylor
CNBC Television・1 minute read
Bitcoin reached a record high above $72,000, with MicroStrategy holding a significant amount of Bitcoins. The halving event is expected to decrease supply, driving up demand and prices, while MicroStrategy serves as a proxy for Bitcoin investment through intelligent borrowing strategies.
Insights
- MicroStrategy, holding a significant amount of Bitcoins, acts as a proxy for investors seeking exposure to Bitcoin without directly purchasing the cryptocurrency.
- The upcoming halving event, reducing the organic supply of Bitcoin sellers, is anticipated to drive up investor demand and subsequently increase Bitcoin's price, positioning it as a digital gold with attributes that surpass traditional assets like gold.
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Recent questions
What is the current price of Bitcoin?
Above $72,000
How is Bitcoin compared to gold?
Seen as digital gold
What is the significance of the halving for Bitcoin?
Cuts organic supply, increases demand
Why is MicroStrategy considered a proxy for Bitcoin?
Offers exposure without buying coins
How does MicroStrategy leverage its assets for Bitcoin investment?
Intelligent borrowing, low interest rates
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Summary
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Bitcoin's Price Surge and MicroStrategy's Role
- Bitcoin crossed the $70,000 mark for the first time on Friday and is now above $72,000.
- MicroStrategy held about 200,000 Bitcoins at the end of last month.
- Bitcoin is seen as a digital gold with superior attributes to gold and is expected to divert capital from risk assets like ETFs.
- The halving will cut the organic supply of sellers in half by April 20th, leading to increased investor demand and a rise in Bitcoin's price.
- MicroStrategy is considered a proxy for Bitcoin, offering investors a way to gain exposure to Bitcoin without directly buying the coins.
- MicroStrategy's leverage allows for intelligent borrowing at low interest rates to invest in Bitcoin, providing shareholders with more Bitcoin per share and a yield against their shares.
