And the winner is…bitcoin.

Michael Saylor is Chief Executive, MicroStrategy (NASDAQ: MSTR), the listed company that made waves with its bold investments aggregating $425 million in bitcoin earlier this year. Stanley Druckenmiller is a billionaire with a background – he and George Soros broke the British pound in 1992. Their recent pronouncements reveal a preference for bitcoin over gold as an investment.

Saylor at CoinDesk’s Bitcoin for Advisors virtual conference

Saylor gave interesting background on how Microstrategy homed in on bitcoin as an investment after they realized that the purchasing power of the U.S. dollar was likely to sink. (Coin Desk)

They looked at alternatives such as real estate, bonds, equity, precious metal, derivatives, and crypto.

Saylor on gold:

• “Gold is the least abundant of the commodities, but you can still produce gold.”
• “The gold miners are the enemies of the gold holders.”
• Over time, gold bugs will dump gold and flee to bitcoin, a superior store of value.

Hoarding gold is “an antiquated approach to storing value,” he said. Bitcoin is “a million times better.”

Last month, Saylor effectively tweeted that he had also put his own money where his mouth is: “Some have asked how much BTC I own. I personally hodl 17,732 BTC which I bought at $9,882 each on average. I informed Microstrategy of these holdings before the company decided to buy bitcoin for itself.”

At current rates that hodling is worth over $270 million.

Druckenmiller on CNBC

According to Bitcoin.com, Druckenmiller appeared on CNBC Monday. He too extolled the virtues of bitcoin as a store of value, even though he owned “many, many more times gold than I do bitcoin.”

In a very significant statement, he said: “Frankly, if the gold bet works, the bitcoin bet will probably work better because it’s thinner, more illiquid, and has a lot more beta to it.”

Humbly, Druckenmiller admitted that he was a bit of a dinosaur. Nevertheless, he had warmed to bitcoin as a store of value.

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