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Michael J. Saylor, the CEO of MicroStrategy, expressed his views on Bitcoin investing in a recent interview.
It is to note that in August 2020, Michael J. Saylor’s firm announced that it had bought 21,454 Bitcoins (BTC) at an aggregate price of $250 Million to utilize it as a primary treasury reserve asset through a press release.
And only recently, during an interview with David Faber and Carl Quintanilla, two co-anchors of CNBC’s Squawk on the Street, and Senior Markets Commentator Michael Santoli.
When Saylor was asked about his views on the fact that his firm has roughly $4 Billion investment in BTC and the market is currently quite bearish, BTC has dropped significantly.
He Stays Optimistic Despite Bearish Market
He highlighted that he thinks it has been a net positive. They back-tested their strategy against every other option. When they initiated this journey of Bitcoin investment, it performed 10x better than anything. Gold is down 10%, Nasdaq is flat, and Bitcoin has been up by 86% since then.
And that over any timeframe, Bitcoin (BTC) is the best performing asset, and he cannot come up with a better idea. If you think about Bitcoin, and your time horizon is one month, it looks like a volatile risk asset. But if the time horizon is ten years, it looks like a risk-off store of value assets. Hence the crossover point of four years, and no one has ever lost money investing in Bitcoin for four years.
When the host asked him what he would say to the ones who bought BTC after listening to him but now feel like they are suffering.
He replied that if someone’s time horizon is less than four years, they’re a trader. But you can call yourself an investor when your time horizon is more than that. And the Bitcoin savers or maximalists have a time horizon of over ten years.
And his advice to anybody investing in BTC is that until you are a professional high-speed trader with proprietary software, you should hold it for at least four years and focus on the four-year simple moving average.
Michael J. Saylor also highlighted in another last month’s interview that he remains bullish as ever on Bitcoin.
At the time of writing, the crowned crypto asset is exchanging hands at $21,085 with a market cap of $402,101,840,918 and is down by around 3% in the last twenty-four hours.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
