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If we had chosen gold over Bitcoin, it would have been a billion-dollar mistake

Şükriye Akdeniz

Sep 7, 2021

MicroStrategy: “Billion Dollar Mistake” averted!

Nasdaq-listed software company MicroStrategy has proven that it made the right decision by choosing to invest in Bitcoin instead of gold. The company currently holds about 108,992 Bitcoins.
MicroStrategy announced that it avoided making a mistake that could cost the company billions of dollars. CEO Michael Saylor tweeted on Sunday:
“If we had chosen gold over Bitcoin last year, it would have been a billion-dollar mistake. It won't help you diagnose the problem if you don't choose the right solution.”
Saylor also compared the gold and Bitcoin yield. According to Saylor's estimation, gold has returned minus 5.88% and Bitcoin 376.34% in the last 12 months. In addition, the gold and Bitcoin return in the last 12 months has been determined as -80%.
Microstrategy recently announced that it has bought and will continue to buy Bitcoin. Making bitcoin its primary goal, the company currently holds around 108,992 BTC.
Saylor said earlier this year:
“Gold is a dead coin. Sell your gold, buy Bitcoin because other people are going to sell their gold, and if you wait until you're led upfront while all the hedge funds are dumping their gold, you'll be the last to leave.”
In April, when Saylor and Frank Giustra discussed Bitcoin and gold, the CEO of Microstrategy argued that diversifying for investment was wrong and said:
“You will never vary the metal in an airplane wing, the answer to a math problem, the shape of a ship's hull, or the oxygen content in a scuba tank. When cabin pressure drops, 10% of your family don't wear an oxygen mask. Money is a competition where the winner takes everything. Choosing the wrong answer has dire consequences.”

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