During a Friday appearance on Bloomberg, Michael Saylor, executive chairman at Strategy, opined that the tariffs on Swiss gold bars will accelerate migration to Bitcoin.
He has stressed that the big appeal of Bitcoin is that it is not physical, quipping that 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, and you can’t ship it across an ocean. And if you do, now you are getting tariffed,” Saylor commented.
Saylor has opined that this will be a new catalyst that will result in another wave of institutional adoption.
Earlier this week, the news of the U.S. imposing tariffs on gold bars sent shockwaves across the bullion market.
The White House now intends to issue an executive order clarifying what has been described as “misinformation,” Reuters reports.
Unbothered by altcoin hype
Saylor says that he is convinced that the vast majority of capital is still currently flowing into Bitcoin while addressing the growing number of treasury companies that are pivoting to altcoins.
The number of Bitcoin treasury companies has grown from 60 to about 160 over the past six months, he says.