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Challenge Accepted! Unwilling to back down from ongoing taunts, the MicroStrategy CEO will publicly debate with a mining magnate and advocate for gold.

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Challenge Accepted! Unwilling to back down from ongoing taunts, the MicroStrategy CEO will publicly debate with a mining magnate and advocate for gold.

Just announced the purchase of 253 bitcoins for $15 million, MicroStrategy CEO Michael Saylor is on to the next mission. He will be hosting a debate with Canadian billionaire and prominent gold supporter Frank Giustra. The crypto community is excited about this, as it will be another showdown between Bitcoin and gold.

Who is Frank Giustra?

Frank Giustra started his career in finance, working as a trader at Merrill Lynch and later becoming a stockbroker. Due to his father's involvement in mining, Giustra's investments have mostly been in the mining sector or related financing institutions, amassing billions in assets in that field, which explains his strong belief in gold.

Since March, Giustra has been inviting Michael Saylor to a public debate on Twitter, sparking discussions and attention within the crypto community, although Saylor has not responded to the invitations.

Finally, in an interview with the media outlet "Kitco News," Giustra issued another challenge, stating:

Saylor is an expert on Bitcoin, and I respect that, but I have been researching gold for over 20 years. I would like to clarify some of his public statements about gold. I am not a Bitcoin hater; I just think we need to explore his arguments about gold and Bitcoin.

Michael Saylor Accepts the Challenge

Facing weeks of provocation from Giustra on Twitter, Saylor initiated a poll, and ultimately, the community voted 90.3% in favor of a public debate between the two.

Although the date and location of the debate have not been confirmed, Saylor is already preparing his presentation. He shared on Twitter a chart showing Bitcoin's performance against various traditional assets and mentioned considering using it in the debate.

Bitcoin VS. Traditional Assets Source: @michael_saylor

Advocates Stand Firm

Supporters on both sides of Bitcoin and gold hold their ground.

Gold advocates argue that Bitcoin is promoting a currency with no physical presence based on the public's faith in gold for thousands of years.

Bitcoin enthusiasts point out the recent performances of both, highlighting Bitcoin's strong surge compared to gold's relatively lackluster returns, declaring the ancient asset as a thing of the past.

Bitcoin VS. Gold Five-Year Returns Source: @michael_saylor

Prominent gold bull and Bitcoin critic Peter Schiff believes this debate will be very interesting:

In contrast to his bullish views on Bitcoin, his negative opinions on gold are even more absurd. Finding someone to challenge Saylor and a credible media platform to assist with the debate might be a bit difficult.

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