[Cover image via U.Today]

Chairman of MicroStrategy, Michael Saylor, has emphasized the superiority of Bitcoin, the leading cryptocurrency by market capitalization, in comparison to gold.

Saylor's statement comes as gold prices have reached new peaks, demonstrating the market's volatility and gold's appeal as a safe-haven asset. Meanwhile, economist Peter Schiff pointed out gold's recent surge, highlighting its trading at a record high of $2,215. Despite a 12% increase in gold prices, gold stocks have dropped by over 4% in the last year.

MicroStrategy, under Saylor's leadership, has been heavily investing in Bitcoin, accumulating more than 214,246 coins. Saylor previously mentioned that Spot Bitcoin ETFs have prompted institutional interest in Bitcoin, signaling a "gold rush" for the cryptocurrency.

Research from Kaiko indicates that Bitcoin and gold have shown limited correlation over the past decade, suggesting differing demand drivers. Bitcoin has outperformed gold with a 154% increase in value over the last year, reaching a high of approximately $73,798 in March.

As of now, Bitcoin is trading at $70,462, with intraday highs hitting $71,335 before experiencing a slight decrease of around 2.57% in a 24-hour period.

Analysts anticipate potential price volatility due to the quarterly expiry of Bitcoin (BTC) and Ethereum (ETH) option contracts worth billions of dollars. Leading options exchange, Deribit, will settle $9.5 billion worth of Bitcoin options and $5.7 billion worth of Ethereum options on Friday.