Buy Crypto
Pay with
Markets
NFT
New
Downloads
English
USD
Flash news
copy link
create picture
more

Michael Saylor Suggests Entry Point For Bitcoin

Anvesh Reddy-Coingape
2022-06-16 04:32
Speaking to CNBC on Wednesday, Michael Saylor said his firm had back-tested its Bitcoin strategy against every other alternative. He said the firm’s Bitcoin strategy was done when Microstrategy took the Bitcoin plunge back in August 2020.
In fact, he emphasized why he thinks Bitcoin would go on to be the best-performing asset in long term. Over any time frame, be it two, five, or ten years, BTC is the best performing asset, he affirmed. He further stated that the cross-over point for holding Bitcoin in profits is four years. The moving average of BTC over four years is an average of $21,685, he said.
“Nobody had ever lost money after investing in Bitcoin for four years. The simple moving average of BTC over four years is $21,685.”
When asked if it is a great buying opportunity now, he replied, “Absolutely.” Bitcoin is backed by the most powerful computer network in the world. It is beyond a nation-state attack or a corporate attack. There is nothing like it in the world. So this is the ideal entry point to get into Bitcoin, he explained.
On concerns over Bitcoin’s steep fall in the last few days and talk of his firm’s likely margin call, he said,
“On a multibillion-dollar balance sheet, we have only got a $200 million loan that we have to collateralize and we are 10X over-collateralized on that right now.”
View full text