As a seasoned investor with decades of experience under my belt, I’ve learned to appreciate the wisdom that comes from those who have walked the walk, like Michael Saylor. His insights into Bitcoin are not just enlightening, but they resonate deeply with my own investment philosophy.
On August 7th, Michael Saylor, the executive chair and co-founder of MicroStrategy Inc. (NASDAQ: MSTR), spoke on Bloomberg Television about why Bitcoin could be a better choice for long-term investment. His views were insightful, highlighting Bitcoin’s distinct qualities and its potential to change our understanding and handling of capital.
During the interview, Sonali Basak from Bloomberg Crypto mentioned that MicroStrategy bought an extra 169 Bitcoins for approximately $11 million in July. She then asked Saylor how he responded when Bitcoin’s price dropped below $50,000 during the crypto market crash, wondering if he takes advantage of such drops and to what degree.
Saylor pointed out that MicroStrategy regularly purchases Bitcoin every quarter, irrespective of temporary price fluctuations. He emphasized the fundamental nature of Bitcoin’s volatility, explaining that it contributes to global credit and liquidity in the short term while ensuring superior asset performance and longevity over the long term. To him, Bitcoin’s volatility demonstrates its functionality compared to markets limited by their physical and political characteristics.
A frequent worry about Bitcoin is the possibility of it experiencing substantial drops in value within short spans, which may give the impression that it’s an untrustworthy form of storing wealth. Saylor addressed this issue by stating that Bitcoin’s price fluctuations are due to its role as digital capital. He asserted that Bitcoin surpasses physical or financial capital because it symbolizes a long-term investment that can be kept for decades without the risk of confiscation by corporations, rivals, trading partners, or nations.
Highlighting the point, Bitcoin offers a unique opportunity for families, businesses, and nations to build long-term wealth across generations. It allows for instant liquidation of funds, regardless of the amount, from any location globally, all without requiring ongoing supervision or specialized skills.
Saylor delved into why Bitcoin’s price dips occur from a psychological perspective and stressed the significance of comprehending these fluctuations. He suggested that while predicting market trends is difficult for many investors, the crucial aspect lies in staying invested in the market. Using Manhattan prime real estate as an analogy, he argued that there’s seldom a wrong moment to invest in Bitcoin, just like there’s rarely a poor time to purchase sought-after property in a premier city.
Saylor articulated that MicroStrategy plans to consistently purchase Bitcoin whenever they have available funds or are able to secure capital through market investments. This persistent approach stems from their conviction in Bitcoin’s lasting worth, rather than trying to predict and buy during market downturns.
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2024-08-08 12:15