{"id":409320,"date":"2022-02-24T17:36:02","date_gmt":"2022-02-24T14:36:02","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/digital-gold-narrative-valid-as-long-as-microstrategy-holds-bitcoin-says-exec\/"},"modified":"2022-02-24T17:36:02","modified_gmt":"2022-02-24T14:36:02","slug":"digital-gold-narrative-valid-as-long-as-microstrategy-holds-bitcoin-says-exec","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/digital-gold-narrative-valid-as-long-as-microstrategy-holds-bitcoin-says-exec\/","title":{"rendered":"# Digital gold narrative valid as long as MicroStrategy holds Bitcoin, says exec"},"content":{"rendered":"<p>&#8220;<strong># Digital gold narrative valid as long as MicroStrategy holds Bitcoin, says exec <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDIvOTAzMDg0ZGYtYmZmNS00YmZlLWI1ZDYtNzE2ZTJkY2E5OGQ3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>As some industry executives have questioned Bitcoin (BTC) as being the digital gold amid a massive market crash on Thursday, other experts continued to support the digital gold narrative for now, or until whale investors like MicroStrategy cash out.<\/p>\n<p>Ki Young Ju, CEO of South Korean on-chain analytics resource CryptoQuant, took to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> on Thursday to report that his platform has not observed any \u201csignificant on-chain activities\u201d as of 11:00 AM UTC.<\/p>\n<p>Institutional investors who bought Bitcoin via on-chain transactions seem to have not sold their holdings yet, Ju wrote, adding that \u201cinstitutions running algorithmic trading bots think BTC is a tech stock.\u201d<\/p>\n<p>\u201cI\u2019d rather stay until Michael Saylor sells Bitcoin,\u201d the CryptoQuant CEO stated, adding that he still supports the digital gold narrative for now:<\/p>\n<blockquote><p>\u201cI believe we can detect whale selling activity through on-chain preemptively. My point was that the digital gold narrative is still valid as long as these institutions hold Bitcoins.\u201d<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Agreed. No significant on-chain activities during this war crisis.<\/p>\n<p>1\/ Institutions who bought <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> via on-chain txns seem not sold their holdings yet.<\/p>\n<p>2\/ Institutions running algorithmic trading bots think BTC is a tech stock.<\/p>\n<p>I&#8217;d rather stay until <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/saylor?ref_src=twsrc%5Etfw\">@saylor<\/a> sells <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/DQvgkAsH1R\">https:\/\/t.co\/DQvgkAsH1R<\/a><\/p>\n<p>\u2014 Ki Young Ju \uc8fc\uae30\uc601 (@ki_young_ju) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1496817408178540549?ref_src=twsrc%5Etfw\">February 24, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nOn Wednesday, Vijay Ayyar, vice president of corporate development at Luno crypto exchange,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbcafrica.com\/2022\/the-case-for-bitcoin-as-digital-gold-is-falling-apart\/\">questioned<\/a> the accuracy of referring to Bitcoin as digital gold, suggesting that it&#8217;s too premature to think of BTC as digital gold yet.<\/p>\n<p>\u201cBitcoin is still early in its maturity curve to be firmly placed in the category of \u2018digital gold,\u2019\u201d he said. In order to compete more effectively with gold as a store of value, Bitcoin needs to achieve more widespread adoption, Ayyar noted.<\/p>\n<p>As previously reported, \u200b\u200bMicroStrategy is one of the world&#8217;s largest public Bitcoin investors, owning more than 120,000 BTC\u00a0as of Jan. 31, 2022. The company continues to buy Bitcoin despite the cryptocurrency plummeting from its November 2021 high above $69,000 to its current value below $40,000.\u00a0<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Russia to seize retail deposits if sanctions go too far, official warns<\/em><\/strong><\/p>\n<p>MicroStrategy is showing no signs that it will abandon its Bitcoin treasury strategy anytime soon. MicroStrategy CEO Michael Saylor\u00a0on Wednesday argued that the uncertainty caused by nation-state conflicts only underscores the benefit of investing in \u201cpure digital energy.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Nation state conflicts create uncertainty, constrain production, weaken currency, cripple trade, and undermine credit, making investments in debt &amp; equity riskier and underscoring the benefit of converting treasury assets into pure digital energy. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/dVkng4iCVX\">https:\/\/t.co\/dVkng4iCVX<\/a><\/p>\n<p>\u2014 Michael Saylor\u26a1\ufe0f (@saylor) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/saylor\/status\/1496521336688201735?ref_src=twsrc%5Etfw\">February 23, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/digital-gold-narrative-valid-as-long-as-microstrategy-holds-bitcoin-says-exec\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Digital gold narrative valid as long as MicroStrategy holds Bitcoin, says exec &#8221; As some industry executives have questioned Bitcoin (BTC) as being the digital gold amid a massive market crash on Thursday, other experts continued to support the digital gold narrative for now, or until whale investors like MicroStrategy cash out. Ki Young&#8230;<\/p>\n","protected":false},"author":1,"featured_media":409321,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDIvOTAzMDg0ZGYtYmZmNS00YmZlLWI1ZDYtNzE2ZTJkY2E5OGQ3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74863,122847,75541,74355,71835,4975,70868],"class_list":["post-409320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-cryptocurrencies","tag-microstrategy","tag-volatility","tag-adoption","tag-gold","tag-russia","tag-ukraine"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/409320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=409320"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/409320\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/409321"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=409320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=409320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=409320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}