Speaking to Yahoo Finance Live, December 9, CEO and founder of MicroStrategy, Michael Saylor, shared his thoughts on whether regulation in the United States, in particular, is bullish or bearish for Bitcoin. On the matter of regulation, Saylor stated: Saylor also elaborated that since Bitcoin is commonly recognized as common property and not a security, it is not subject to governmental oversight. He added: Similarly, SkyBridge Capital founder Anthony Scaramucci had similar views on the crypto hearings as he stated:
Gold is a dead rock
Furthermore, the crypto bull and MicroStrategy founder said the emergence of Bitcoin as an investment might herald the end of gold as an asset class in the long run. giving his thoughts on both asset classes: This year, the buy Bitcoin dump gold approach has proven successful, as investors rush to assets they think would prosper during moments of rising inflation, such as Bitcoin and cryptocurrency. It’s worth noting that Bitcoin is up 75.24% year to date vs. gold in return on investment (ROI) when using our Bitcoin ROI vs. other assets indicator. Saylor continues to back up his words with action on behalf of his firm as MicroStrategy acquired an extra 1,434 Bitcoins for $82.4 million in cash at an average price of $57,477 on Thursday, December 9, according to the long-time crypto proponent’s tweet to his 1.9 million followers. Indeed, as of December 10, MicroStrategy has 122,478 Bitcoins worth $3.66 billion in its possession, with the average price of Bitcoin at $29,861.
