Michael Saylor, the founder of MicroStrategy, gave advice to Bitcoin (BTC) investors who are experiencing a bear market for the first time.
Known for his Bitcoin investments MicroStrategy’s founder Michael Saylor at the Los Angeles Pacific Bitcoin conference Cointelegraph made statements. In his statement, Saylor offered advice to investors experiencing a bear market for the first time. The main theme of Saylor’s statement is, when it comes to Bitcoin, “you need to have a long time perspective” made statements that:
If you’re buying Bitcoin and you have a time horizon of less than four years, you’re just speculating. If you have a time horizon of more than four years, then what you need to do is average the dollar cost. You buy the asset you want to hold for ten years or more, which is a long-term store of value. Do not get carried away and look at the price from day to day, week to week.
To the billionaire, valuing Bitcoin is like valuing a house. Saylor this home allegory gives an example as follows:
If you bought a house and then got drunk when you went to the party, then at 11 o’clock or midnight you went ‘How much would you pay for my house? I want to sell you my whole house immediately.’ If you do, someone might say, ‘I’m not really in the mood to buy a house. I’ll give you half of what you paid’ and you return home desperately saying ‘I lost all my money’.
Saylor emphasizes that Bitcoin investment will be long-term and that the money that will be needed in the short term is not investment capital, but working capital. Saylor, inflationist with depression dealing with Argentina offers an example:
If you live in Argentina, it makes sense to hold pesos for a month or two and dollars for a year or two. You hold Bitcoin for ten or two years. And when you think about these frequencies and time periods, it all starts to make sense.
A similar example in Saylor 2021 USD/TL parity 14when you rise to Turkish also for investors. “If you want to survive, convert your Turkish lira to dollars” said saylor and continued his speech as follows “If you want to save your future, convert your Turkish Lira to Bitcoin.”
MicroStrategy’s to 130,000 Bitcoins known to have. This number is the total Bitcoin supply. you are 0.62%corresponds to e.