Michael Saylor: Dollar Lost 99.88% Of Purchasing Power To Bitcoin Over Last Decade – MicroStrategy (NASDAQ:MSTR)
MicrosStrategy Inc MSTR CEO Michael Saylor raised the alarm on Monday, revealing that the US dollar has lost 99.88% of its purchasing power compared to Bitcoin BTC/USD over the past 10 years.
What Happened: Dogecoin DOGE/USD co-founder Billy Markus, popularly known as ‘Shibetoshi Nakamoto’, responded to Saylor’s comment comparing the US dollar and Bitcoin by saying, “Now do over the last 2 years.” This means doing a comparison between USD and BTC over the past two years to see how they have both performed.
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According to the chart shared by Saylor, since August 10, 2020, when MicroStrategy first adopted its Bitcoin strategy, apex crypto has grown a whopping 125% while S&P500 and Nasdaq have risen 17% and 6%, respectively. Meanwhile, Gold, Bonds, and Silver have all declined, down 5%, 17%, and 22%.
Price Action: At the time of writing, BTC was trading at $27,838, up 1.32% in the last 24 hours, according to Benzinga Pro.
Read More: Bitcoin Below $28K, Ethereum, Dogecoin Fall Ahead Of Fed Rate Decision: Analyst Pencils Key Levels For Apex Crypto ‘Chopping Around’