US hedge fund industry giant Ray Dalio pointed out, "Bitcoin is not serving as a safe-haven asset. The reasons include lack of privacy, high correlation with tech stocks, and small market size. Gold, on the other hand, is an independent asset. There is only one gold, and it is more widely held." In response, MicroStrategy founder Michael Saylor rebutted via X, "Gold is analog capital, and Bitcoin is digital capital. Transparency is a feature, not a flaw. Bitcoin is suitable as a global collateral asset. Since MicroStrategy began its Bitcoin accumulation strategy in August 2020, Bitcoin has generated higher returns than gold."
