1st time Bear market? Advice from Bitcoin (BTC) Bull Michael Saylor

2 min

First-time market? It’s likewise the 1st Bitcoin (BTC) (BTC) bear market for Michael Saylor, one of the world’s largest Bitcoin (BTC) bulls. 

Executive chairman of one of the world’s largest pro- Bitcoin (BTC) corporations, Saylor took a moment out of his busy schedule at the Angeles Pacific Bitcoin (BTC) conference to speak with Cointelegraph. Crucially, Saylor reported Cointelegraph that when it comes to Bitcoin, “you have to take a long frame time perspective.”

“If you’re buying [Bitcoin] and you’ve got less than a four-year time horizon, you’re just speculating in it. And once you’ve got greater than a four-year time horizon, then the obvious thing is you dollar-cost average.”

Dollar-cost averaging is a way of reducing exposure to the volatility of an investment. Saylor continued, “You buy the investment that you want to hold for a decade or longer, which is the longstanding store of value.”

At 130,000 BTC, MicroStrategy owns 0.62% of the supply of Bitcoin, as the total Bitcoin (BTC) mined is restricted to 21 Million. ’s entry price is approximately $30,639 per BTC, meaning the technology group’s total financing is substantially underwater — were they to sell for .

First Time Bear Market? Advice From Bitcoin Bull Michael Saylor

Nonetheless, Saylor is nonplussed about the — on — of billions of dollars, stating, “Don’t get up and looking the price day to day, week to week.”

First Time Bear Market? Advice From Bitcoin Bull Michael Saylor

The billionaire compares valuing Bitcoin (BTC) to valuing a home. He joked that “if you bought a house and then every time you went to a party, you got drunk, and then at 11 pm or midnight, you walked up and stated, ‘How much will you pay for my house? I want to sell you my entire house now.’ Someone might say, ‘Well, I’m not really in the mood to buy a house. I will give you like half of what you paid for it,’ and then you will  go home despondent, saying, ‘I lost all my money.’”

Avoid that anxiety, he advised, and if you really do need the money in the upcoming 12 months, it’s not investable capital; instead, Saylor stated, “It’s working capital.”

“A logical model is if you in Argentina, you’re holding pesos for or two, you’re holding dollars for a year or two. You’re holding Bitcoin (BTC) for a decade or two. And when you think about it in those frequencies and time frames, it all starts to make sense.”

Finally, as Saylor and Binance  exchange CEO Changpeng suggested, take custody of your Bitcoin. In light of another cryptocurrency exchange vanishing with customers’ funds, taking custody of Bitcoin (BTC) is the only way of ensuring property that cannot be confiscated.

Continue reading on Cointelegraph.com

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