Microstrategy CEO says Bitcoin will subsume gold market cap

  • 📰 Reuters
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

Microstrategy Chief Executive Michael Saylor told CNBC on Tuesday that Bitcoin is going to subsume the entire gold market cap.

“There’s $10 trillion dollars worth of gold in there, $1 trillion in bitcoin. The bitcoin is going to flip gold and it’s going to subsume the entire gold market cap,” he said in the CNBC interview. “Then it’s going to subsume negative yielding sovereign debt and other monetary indexes until it grows to $100 trillion dollars.”

Saylor also told CNBC that Bitcoin is not for spending and not really a currency and that it’s for saving. MicroStrategy is a major corporate backer of the digital currency, and is engaged in an almost $1 billion convertible note offering with proceeds going to buying bitcoin.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

$Blue

This guy is scared shitless . Too F$$king bad . Baby having a bad potty day ?

The deception of the rich to the POOR 

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MicroStrategy CEO says bitcoin will one day have $100 trillion market value even as price dives'Bitcoin is going to flip gold and then it's going to subsume the entire gold market cap,' michael_saylor says. Its volatility will begin to decrease once it hits $10T, he adds. michael_saylor ⬇️⬇️⬇️⬇️ michael_saylor michael_saylor More good news please(((
Source: CNBC - 🏆 12. / 72 Read more »

Why Bitcoin price drop after Coinbase IPO helps industry: Crypto CEOCoinbase's IPO is driving cryptos to record highs. A former Morgan Stanley trader who now runs a crypto finance firm breaks down why a near-term correction in Bitcoin might actually be a good thing for the industry. thank you very much for your work Crypto='Hi I have nothing. How much would you pay for it?' Where can you go for fun in your city?
Source: BusinessInsider - 🏆 729. / 51 Read more »