The purchase of the first cryptocurrency as a reserve asset was justified, in the future bitcoin will confirm its reliability. This was stated by ex-head of MicroStrategy Michael Saylor in an interview with Stansberry Research.
“After the adoption strategies we knew we would lose 20% of our purchasing power of reserves a year if we kept them in a bank account. We could suffer […]but got into the lifeboat of the first cryptocurrency with the understanding that we will be thrown into the ocean, but we will not drown and will appreciate this step over time, ” — Sailor emphasized.
Bitcoin maximalist said that two years after first investment of $250 million the asset outperformed its competitors.
“The first cryptocurrency has grown in price by 101%, S&P 500 by 23%, Nasdaq by 15%. Bonds fell 12%, gold – 15%, silver – 18%. The only instrument that showed the best dynamics was MicroStrategy shares (growth by 166%)”he explained.
According to Saylor, the volatility of cryptocurrencies will only affect short-term investors and public companies, and bitcoin is not for everyone. Those who bought the coin within the last three to six months are sitting at a loss, facing the consequences tightening policy Fed and the collapse of Terra.
“The investment should be for a period of at least four years. Ideally, this is the transfer of wealth from generation to generation. The metric that confirms this is the four-year moving average. — Sailor explained.
As of June 30, 2022, MicroStrategy owns 129,698 BTC (almost $4 billion at the time of writing).
Recall that in early August, Sailor resigned as CEOwhile retaining the position of Chairman of the Board of Directors.
Previously, he repeatedly called the first cryptocurrency the most reliable thing in an unstable world and global reserve asset.
Read Cryplogger bitcoin news in our Telegram – Cryptocurrency news, courses and analytics.
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The purchase of the first cryptocurrency as a reserve asset was justified, in the future bitcoin will confirm its reliability. This was stated by ex-head of MicroStrategy Michael Saylor in an interview with Stansberry Research.
“After the adoption strategies we knew we would lose 20% of our purchasing power of reserves a year if we kept them in a bank account. We could suffer […]but got into the lifeboat of the first cryptocurrency with the understanding that we will be thrown into the ocean, but we will not drown and will appreciate this step over time, ” — Sailor emphasized.
Bitcoin maximalist said that two years after first investment of $250 million the asset outperformed its competitors.
“The first cryptocurrency has grown in price by 101%, S&P 500 by 23%, Nasdaq by 15%. Bonds fell 12%, gold – 15%, silver – 18%. The only instrument that showed the best dynamics was MicroStrategy shares (growth by 166%)”he explained.
According to Saylor, the volatility of cryptocurrencies will only affect short-term investors and public companies, and bitcoin is not for everyone. Those who bought the coin within the last three to six months are sitting at a loss, facing the consequences tightening policy Fed and the collapse of Terra.
“The investment should be for a period of at least four years. Ideally, this is the transfer of wealth from generation to generation. The metric that confirms this is the four-year moving average. — Sailor explained.
As of June 30, 2022, MicroStrategy owns 129,698 BTC (almost $4 billion at the time of writing).
Recall that in early August, Sailor resigned as CEOwhile retaining the position of Chairman of the Board of Directors.
Previously, he repeatedly called the first cryptocurrency the most reliable thing in an unstable world and global reserve asset.
Read Cryplogger bitcoin news in our Telegram – Cryptocurrency news, courses and analytics.
Found a mistake in the text? Select it and press CTRL+ENTER
