Michael Saylor, founder of Strategy (MSTR) and a major holder of bitcoin, predicts bitcoin will surpass gold as an asset class by 2035. Bitcoin’s market cap of $2.04 trillion versus gold’s $29.2 trillion would require a price per coin above $1.4 million for bitcoin to overtake gold.

Saylor’s optimistic outlook on bitcoin follows a correction in prices for bitcoin and other digital assets. Despite bitcoin underperforming gold by 52% this year, it has still risen 9%. Strategy’s stock, however, is down 22% for the same period.

Strategy, formerly MicroStrategy, has shifted to focus on bitcoin investments under Saylor’s leadership. The company recently purchased an additional 487 bitcoin, bringing its total holdings to 641,692 BTC, or 3% of bitcoin’s total supply.

Saylor remains confident in the future of bitcoin, citing improved industry fundamentals and negative market sentiment as opportunities for savvy investors. The company’s strategic approach to accumulating bitcoin through a mix of debt and equity has positioned it as a key player in the cryptocurrency space.

Read more at Yahoo Finance: Strategy’s Michael Saylor says ‘no doubt in my mind’ bitcoin will be bigger than gold within a decade