Michael Saylor on Gold Being Unable To Communicate To Other Gold #cha7
by Larry Chiang on March 1, 2021
By Larry Chiang
The network effect.
Bob Metcalfe’s Law.
Gold can’t text message gold
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| #Bitcoin has outperformed #Gold by 100x over the past decade. The next decade will witness the complete digital transformation of gold to bitcoin, and the demonetization of the precious metals asset class. |
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| 3/1/21, 9:45 AM |
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| 2/ CAGR takes an asset’s ROI between two dates, and works out the average compounded annual return.
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For bitcoin over the past decade, this works out to 196.72%
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| 3/1/21, 9:04 AM |
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| 3/ This is an unheard-of number. This means that bitcoin has returned almost 200% (so nearly tripled your money), every single year for 10 years, *compounded*.
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In raw ROI terms, that works out to 5.2 *million* % return over the decade.
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| 3/1/21, 9:05 AM |
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| 4/ For comparison, TSLA’s CAGR is “off the charts” by normal standards at 63.8%, but is dwarfed by bitcoin. The best performing funds in history, over their best 10yrs, are high teens or low 20s % CAGR. |
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| 3/1/21, 9:05 AM |
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| 5/ Ok, but bitcoin was tiny 10yrs ago, and maybe 10yrs happens to be a cherry-picked timeframe…
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Nope. Bitcoin’s CAGR dwarfs other benchmarks over ANY multi-year period in the past decade: pic.twitter.com/nsWNGyUO74
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| 3/1/21, 9:06 AM |
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