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MicroStrategy CEO Michael Saylor responded to a query regarding his company’s current status and the massive investment in BTC it has made since August 2020 in a recent interview with CNCB.
Saylor said that Bitcoin had performed 10 times better than any other asset since then, using the S&P 500, gold, and the Nasdaq 100 index as examples.
Michael Saylor provided some particular figures: gold has down 10% since August 2020, the Nasdaq has been unchanged, and Bitcoin has increased by 86% since then.
He believes that Bitcoin is the best-performing asset over any time period – two years, four years, eight years, and so on – and that he “cannot come up with a better concept” than to invest in it.
Avoiding a straight answer to the issue of whether he is considering buying more BTC for the company right now, Saylor noted that while Bitcoin may appear to be a dangerous volatile asset for a one-month investment, it is a risk-off store of value asset for an investor with a ten-year time horizon.
“Nobody has ever lost money investing in Bitcoin for four years,” he asserted, implying that this is a minimum timeframe for purchasing BTC. He also noted that the $21,685 mark is a simple moving average for Bitcoin over a four-year timeframe. Only a few times in history has BTC reached this level, and it has done so today.
As a result, Saylor has dubbed this price level “a great buying opportunity” and “an ideal entry point”.
A well-known Bitcoin detractor as well as a gold enthusiast In a recent tweet, Peter Schiff chastised Saylor for once again boosting Bitcoin on CNBC while criticising gold.
Source: Utoday
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