Now it’s ‘the perfect entry point’ for Bitcoin: Michael Saylor

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Youri Molchan

MicroStrategy head remains bullish on Bitcoin, despite huge losses on his BTC investment

In a recent CNCB interview, MicroStrategy chief Michael Saylor answered a question about the current situation of his company and the huge investment in BTC it has made since August 2020.

Saylor said that since then Bitcoin has done 10 times better than any other asset, citing the S&P 500, gold and the Nasdaq 100 index.

Michael Saylor gave some hard numbers – gold is down 10% since August 2020, Nasdaq is flat, and Bitcoin is up 86% since then.

He is convinced that Bitcoin is the best performing asset over any time frame – 2 years, 4 years, 8 years, etc., and he “just can’t come up with a better idea” than to choose it for the future. investment from MicroStrategy.

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Avoiding a direct answer to the question if he plans to buy more BTC for the company now, Saylor said that for a month-long investment, Bitcoin may seem like a risky volatile asset, but for an investor with a time frame ten years is a store of risk-free assets.

“No one has ever lost money investing in Bitcoin for four years,” he claimed, suggesting that this time frame is minimal for buying BTC. He also said that for Bitcoin, the $21,685 level is a four-year simple moving average. BTC has only reached this level a few times in history, and it has now.

Saylor therefore called this price level a “great buying opportunity” and “ideal entry point”.

Prominent Bitcoin hater and gold bug Peter Schiff slammed Saylor in a recent tweet for again pumping Bitcoin on CNBC and slamming gold.

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