In a recent Bloomberg interview, Michael Saylor, Executive Chairman at Strategy, shared his views on how gold tariffs may impact the cryptocurrency market.
New Gold Tariffs and Their Impact
Michael Saylor stated that tariffs on Swiss gold bars will hasten the migration of investors to Bitcoin. He noted that news of the tariffs triggered a sharp response in the bullion market.
Advantages of Bitcoin
Saylor emphasizes the appeal of Bitcoin, stating that it is not a physical asset: "There are no tariffs in cyberspace. It doesn’t have weight. You can settle anywhere with anybody in a few minutes. Gold has always been too heavy, too slow for such trading."
Increased Interest in Bitcoin
Saylor predicts that these new conditions will lead to increased institutional interest in Bitcoin. He also noted a rise in the number of treasury companies holding Bitcoin, from 60 to 160 over the past six months.
Such growth in interest in Bitcoin could positively influence its value and attract new investors to the cryptocurrency sector.
