MicroStrategy CEO Michael Saylor remains optimistic about Bitcoin despite the huge drop in the value of the cryptocurrency and the entire market. He believes that now is the “ideal entry point” to buy Bitcoin.
In a recent interview with CNCB, MicroStrategy CEO Michael Saylor answered a question about the current situation with his company and the massive BTC investment it has made since August 2020. Saylor stated that during this time, Bitcoin has performed 10 times better than any other asset, mentioning the S&P 500, gold, and the Nasdaq 100 index. He gave some specific numbers: gold has fallen 10% since August 2020, the Nasdaq has not changed, and Bitcoin has risen 86% since then.
Sailor is confident that Bitcoin is the best-performing asset for any time period - 2 years, 4 years, 8 years, etc., and he simply “cannot come up with a better idea” than to choose it for MicroStrategy's investment, according to u.today.
Sailor also said that for a month-long investment, Bitcoin may seem like a risky, volatile asset, but for an investor with a ten-year time frame, it is a risk-tolerant asset. “Nobody has ever lost money investing in Bitcoin for four years,” he claimed, suggesting that this time-frame is a minimal one for buying BTC.
Apart from this, Saylor also stated that for Bitcoin, the $21,685 level is a simple moving average over a four-year period. BTC has only touched this level a few times in history, and it has done so now. That is why this level is “an ideal entry point” and “a great buying opportunity.”
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Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.