Previous article Saylor: BTC has outperformed other assets since MicroStrategy’s first purchase Next article Home Latest Cryptocurrency News Saylor: BTC has outperformed other assets since MicroStrategy’s first purchase Saylor: BTC has outperformed other assets since MicroStrategy’s first purchase By Benson Toti - min read 12 May 2022 Bitcoin price touched lows of $26,597 on Thursday, its lowest level since January last year, losing more than 8% as cryptocurrencies continue to sell-off. According to data from CoinGecko, the cryptocurrency has since moved above $28k and currently hovers near $28,600. The BTC/USD pair is down about 4% on the day and 28% from its seven-day highs around $39k.Year-to-date, BTC is down 39%. Saylor on BTC vs. other assets since August 2020 Despite Bitcoin’s price plummeting since its all-time high last November, MicroStrategy CEO Michael Saylor says the benchmark cryptocurrency remains the “best hedge against inflation.” “Bitcoin is the best hedge against inflation. Since $MSTR announced its first BTC purchase August 11, 2020, bitcoin has appreciated 149%, outperforming Silver (-17%), Gold (-9%) Nasdaq (5%), S&P (18%), CPI (11.2%), M2 (19%), US Homes (28%), & PPI (33%),” Saylor tweeted on Thursday. #Bitcoin is the best hedge against #Inflation. Since $MSTR announced its first BTC purchase August 11, 2020, bitcoin has appreciated 149%, outperforming Silver (-17%), Gold (-9%) Nasdaq (5%), S&P (18%), CPI (11.2%), M2 (19%), US Homes (28%), & PPI (33%). — Michael Saylor⚡️ (@saylor) May 12, 2022 US inflation data for April showed that the consumer price index (CPI) rose 8.3%, slightly lower than the year-over-year pace seen in March. However, it was still trending at near 40-year highs. The US Federal Reserve has responded to the rising inflation with two rate hikes of 0.25% and 0.5%, and could yet go for a 0.75% hike in June. Downside pressure on the stock market could yet see crypto follow suit as short-term correlation rises. Yet, MicroStrategy continues to hold onto its BTC purchases, with multiple dip-buys having brought its total haul to 129,218 BTC. Saylor has previously said the company has no plans to sell. MicroStrategy purchased its Bitcoin at an average price of $30,700. Share this article Categories Markets Tags Bitcoin MicroStrategy