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  • Michael Saylor: Flow Of Money Into Bitcoin Is A Chain Reaction

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    Michael Saylor

    Michael Saylor: Flow Of Money Into Bitcoin Is A Chain Reaction

    MicroStrategy CEO Michael Saylor believes that the flow of money from real-world conventional assets into Bitcoin (BTC) is neither a bubble nor a rally but a chain reaction.

    Gigachad Saylor was as bullish on Bitcoin as ever after he took to Twitter to share his belief. The MicroStrategy CEO claiming the escalating risk of currency devaluation was driving the flow of money from fiat-priced assets into Bitcoin.

    ‘Money is flowing out of conventional assets into Bitcoin due to the escalating risks of global currency devaluation, technology disruption, social dislocation and political uncertainty,’ said Michael Saylor, who went on to warn: ‘This is not a “rally” or “bubble” – it’s a chain reaction spreading like a fire in cyberspace.’

    Michael Saylor is a Bitcoin Bull

    Governments Are Addicted To Printing “Free Cash”

    The currency devaluations are like a global pandemic as all governments use covid and lockdowns as an excuse to print more “free cash”.

    The US government has recently announced a $900 billion devaluation of the USD to add to its already $3 trillion printed this year, and as everything else is priced in the dollar, money will continue to flow into Bitcoin.

    Added with bond yields at an all-time low, and investors, especially institutional investors, now have to look for another safe haven to park their trillions.

    It’s all fuel for Bitcoin’s fire and as Michael Saylor says will only gain more traction as the Bitcoin market cap grows.

    Trezor, the most secure hardware wallet

    Institutions Will Look For New Safe Havens

    Some of the money set to flow out of traditional investments will find its way into gold, but with only about 1% of institutions interested in gold, the precious metal has clearly never been a favourable option for institutions.

    Those institutions are looking at Bitcoin now, thanks to Michael Saylor’s bold move earlier this year, which has seen him invest a total of $1.15 billion into Bitcoin.

    Most large institutions won’t touch Bitcoin yet, because it’s too small a market, and it’s unregulated, but they are watching it now, and many of the smaller institutions are getting exposure now.

    Since MicroStrategy first announced it was making Bitcoin the largest part of its treasury, the BTC price has hardly had any sizeable corrections on its march from $10,000 in July to an all-time high of over $24,000 earlier this week.

    Bitcoin price has been very bullish

    Any other past bull run has seen large 20-30% corrections, but this time the biggest drop has been about 14% back in early September, when the price dropped from $11,935 to $10,190.

    Since then, we have seen PayPal, Square Inc., and the likes of MassMutual get exposure to Bitcoin, and we have only had one sizable correction from $19,200 down to $16,872, before Bitcoin marched onwards to its new all-time high.

    Added with the shitcoin sell-off today, triggered by the news that Ripple is finally been sued by the SEC, which has seen the XRP token drop 55% in 3 days.

    Bitcoin’s stability in the shitcoin sell-off further validates Michael Saylor’s view that more sophisticated investors are buying Bitcoin now and are replacing the weak handed retail speculators.

    On Christmas Eve 2020, it looks like it’s going to be a very merry Christmas for all Bitcoiners, and a prosperous 2021.

    Author: Pablo Clarke

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