When it comes to investing, gold has always been considered a safe haven. But with the rise of Bitcoin, investors are beginning to see the cryptocurrency as a better store of value. Michael Saylor, a well-known proponent of Bitcoin, recently made a compelling case for why BTC is a better investment than gold.
Saylor, who is known for using metaphors from aerospace engineering and physics to explain Bitcoin, compared the efficiency of Bitcoin with that of gold. He pointed out that moving a hundred million dollars in Bitcoin would take only 30 minutes and cost just a few dollars in transfer fees, while moving a hundred million dollars of gold would cost $250,000 and take a week or even a month. Saylor also noted that there are 250 trillion dollars in assets in the “alt assets” category, while there are only 25 billion dollars of assets in the “altcoins” category. He emphasized that Bitcoin is much more efficient than gold, making it a better store of value.
Saylor went on to use aerospace analogies to explain Bitcoin’s efficiency, stating that when monetary energy is encrypted on the Bitcoin network, it’s like achieving escape velocity out of the gravity well. He compared Bitcoin to a spacecraft that gains infinite distance once it achieves escape velocity, and noted that just as escaping Earth’s gravity requires a lot of energy, Bitcoin’s early days required significant investment and infrastructure. But just as a spacecraft gains infinite distance once it achieves escape velocity, Bitcoin’s efficiency and speed only continue to improve over time.
Despite Bitcoin’s compelling advantages, skeptics are still unconvinced. They argue that Bitcoin doesn’t have intrinsic value like gold, point to the many instances of fraud and theft that have plagued the cryptocurrency industry in recent years, and criticize the fact that Bitcoin is not backed by a central authority. However, Saylor believes that these concerns are overblown. Bitcoin’s decentralized structure makes it more secure and resistant to fraud than traditional financial systems, which are subject to the whims of governments and banks.
In conclusion, while gold has always been considered a safe haven, Bitcoin is now emerging as a better store of value. With its efficiency, speed, and resistance to fraud, Bitcoin has the potential to become a major force in the investment world. Investors who are willing to take the risk of investing in this new asset class may reap significant rewards in the long term.