Interview with Michael J. Saylor, Founder, Chairman and CEO of Nasdaq-Listed Business Intelligence, on Wednesday (June 15th) MicroStrategy Inc. (NASDAQ: MSTR), talked about investing in Bitcoin.
It is worth remembering that MicroStrategy announced on 11.8.2020 a Press release that it had “purchased 21,454 bitcoins for a total purchase price of $ 250 million” for use as a “primary state reserve fund.”
Saylor said at the time:
“Our decision to invest in Bitcoin at this time was due in part to a combination of macro factors affecting the economic and business environment that we believe will create long-term risks to our corporate finance program – risks that should be addressed proactively.“
Since then, MicroStrategy has continued to raise Bitcoin and its CEO has become one of Bitcoin’s loudest advocates. MicroStrategy’s latest $ BTC acquisition, which Saylor tweeted on April 5, means the company now owns about 129,218 bitcoins, “acquired for $ ~ 3.97 billion at an average price of $ 30,700 per bitcoin.”
Yesterday (June 15) Saylor talked about Bitcoin – when it was in an interview David Faber and Carl Quintanillatwo CNBC assistantsSquawk on the street“and the Senior Markets commentator Michael Santoli.
Faber began by asking the CEO of MicroStrategy what he thinks of MicroStrategy’s nearly $ 4 billion investment in BTC, given the current bear market (where BTC has fallen as low as $ 20,116 from an all-time high of about $ 69,044, which it achieved on November 10, 2021 ).
Saylor replied:
“I think it has been positive. We tested our strategy against all other options. If you move the clock back to August 10, 2020, when we started this journey, Bitcoin performed 10 times better than anything else. Gold has fallen 10 percent. The Nasdaq is flat. Bitcoin has risen 86% of the time. In any term, two years, four years, eight years, Bitcoin is the best performing asset. I can’t come up with a better idea...
“If you think of Bitcoin, if your time horizon is one month, it looks like an unstable level of risk, but if your time horizon is 10 years, it looks like a risk pool of valuables. The crossing point is therefore four years. No one has ever lost money investing in Bitcoin in four years.
“And if you want to replace the book value of the Bitcoin network, that would be a simple moving average for four years. Bitcoin’s simple moving average over four years is about $ 21,685. Bitcoin has only touched this point a couple of times in its history and they have always been great buying opportunities.“
Santoli asked what Saylor is telling people who bought Bitcoin at a margin after listening to Saylor and are now in a “deeply negative position.”
Saylor replied:
“See, if your time horizon is less than four years, you’re a trader, and I don’t think you should trade anything unless you’re a professional, you do it for your job. If your timer horizon is more than four years, you can reasonably call yourself an investor, and the time horizon for Bitcoin savers or maximalists is 10 years or longer.
“So my advice to anyone investing in Bitcoin: unless you’re a professional fast trader with proprietary software, you should keep it for at least four years, and if you want to focus on something, focus on four years, a simple moving average. It prevents you from giving yourself anxiety, and it helps you understand where we are during the life of the property.“
On May 27, the CEO of MicroStrategy confirmed that he will remain at Bitcoin as rising as ever to interview In Fox News, “Tucker Carlson Tonight.”
Saylor said:
“Bitcoin is the surest thing in a very uncertain world. In a market full of chaos, noise and rage, people need a safe place to stand apart from government, agency or corporate intervention.
“So Bitcoin represents a fair, open and equitable network with a very simple promise to anyone who wants to join, which is something you own, and no one will take it away from you…
“There is currently no simple hiding place in this market. All indices are in the bear market area. Bonds are not safe waste because they are currency derivatives. Equities need to grow their cash flow faster than inflation.
“But if you walk away, two years after the craving crisis, you’ll find that the U.S. money supply grew 36%. Gold has risen 7 percent. The S&P index is up 29 percent. The Nasdaq rose just 19 percent. Bitcoin has risen 229 percent. So if you can curb volatility, look at the long gaze, you have a safe haven there…
“Whenever I have extra money, we buy more Bitcoins. We take this very far. The network is only getting better. Adoption is improving. DC is becoming very constructive regulation, and the Lightning Network brings us closer to Satosh’s promise to allow everyone in the world to trade with each other at the speed of light in a fair and equitable manner… I buy from the top forever… Bitcoin is an instrument of economic influence.“
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h/t – CryptoGlobe