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Bitcoin Updates: Bitcoin or Gold by 2035? Saylor’s Wager Challenges Skeptics Amid Concerns Over Debt

Bitcoin Updates: Bitcoin or Gold by 2035? Saylor’s Wager Challenges Skeptics Amid Concerns Over Debt

Bitget-RWA2025/11/13 16:02
By:Bitget-RWA

- Michael Saylor predicts Bitcoin will surpass gold as the largest asset class by 2035, citing its capped supply and growing adoption. - MicroStrategy (MSTR) holds 641,692 BTC ($68B) via perpetual preferred stock issuances, reflecting Saylor's aggressive Bitcoin accumulation strategy. - Critics like Jim Chanos question Strategy's debt-fueled Bitcoin bets, noting its 22% stock decline and Bitcoin's $2.04T market cap lagging gold's $29.2T valuation. - Saylor argues Bitcoin's "hard cap" and institutional adop

Michael Saylor, who serves as executive chairman of

(MSTR), the largest publicly traded company holding globally, has reiterated his confident outlook that the cryptocurrency will surpass gold to become the top asset class by 2035. During his remarks at the Yahoo Finance Invest conference, Saylor highlighted Bitcoin’s limited supply—capped at 21 million coins—and its increasing mainstream adoption as fundamental reasons for its long-term strength. “I am absolutely certain,” he declared, “that .”

Bitcoin Updates: Bitcoin or Gold by 2035? Saylor’s Wager Challenges Skeptics Amid Concerns Over Debt image 0
Strategy’s ongoing and robust accumulation of Bitcoin reflects Saylor’s strong belief. The firm recently acquired an additional 487 Bitcoins, raising its total reserves to 641,692 BTC—currently valued at about $68 billion. This amount accounts for more than 3% of all Bitcoin in circulation and . The most recent purchase was financed by issuing perpetual preferred shares, including STRK, STRF, STRD, and , all of which contribute to Strategy’s ambitious “42/42” fundraising initiative aiming for $84 billion by 2027 .

Saylor’s projections have drawn skepticism, especially from short sellers such as Jim Chanos, who recently exited his short position against

after a lengthy standoff. Chanos, known for betting against overvalued companies, contended that Strategy’s use of debt and equity to fund Bitcoin purchases has made its risk profile more fragile. “The premium investors once paid for Strategy has sharply declined,” Chanos remarked, pointing to the company’s 22% drop in share price this year and Bitcoin’s lagging performance compared to gold, which .

For Bitcoin to surpass gold, it would require a significant increase in value. Bitcoin’s market capitalization stands at $2.04 trillion, far below gold’s $29.2 trillion. Saylor recognizes this disparity but sees it as a chance, citing Bitcoin’s distinctive features: programmable money, digital scarcity, and growing institutional interest. By 2035, he noted, 99% of all Bitcoin will have been mined, establishing a “hard cap” that differs from gold, which can still see increased mining output

.

Market conditions remain uncertain. Although Bitcoin has climbed back above $105,000 following the resolution of U.S. government shutdowns and renewed institutional enthusiasm, it still lags behind the S&P 500 and Nasdaq Composite in 2025 returns. Gold’s recent strong performance has been driven by its appeal as an inflation hedge and by central bank purchases, especially in developing economies

. Despite these obstacles, Saylor remains undeterred, arguing that Bitcoin’s blockchain technology and its increasing reputation as a “digital store of value” will ensure its future dominance.

The wider cryptocurrency sector also lends weight to his argument. More than 193 publicly listed companies have adopted Bitcoin as part of their treasury strategy, though many have seen their stock prices pressured as market sentiment shifts. Strategy’s competitors—including MARA, Tether-backed Twenty One, and Bullish—collectively hold 53,250 BTC, but none rival Strategy’s holdings or Saylor’s persistent accumulation

.

Detractors point to risks such as leveraged positions in crypto derivatives and the industry’s vulnerability to regulatory changes. Nevertheless, Saylor asserts that Strategy’s financial structure—which combines equity, convertible bonds, and preferred shares—is built to endure a 90% drop in Bitcoin’s value over a four to five year period

.

With 2035 approaching, the contest between Bitcoin and gold is still undecided. For now, Saylor’s steadfast optimism and Strategy’s ongoing Bitcoin acquisitions highlight a bold wager on the evolution of digital finance.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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