MicroStrategy CEO Michael Saylor said in a recent CNBC news telecast that this is an ideal entry point to buy bitcoin.
The market has been going through turmoil with the price of bitcoin and other altcoins trading in the red. Even though Michael Saylor suffered an unrealized loss of over $1 billion in bitcoin during this bear market, his faith and belief have never faltered.
Saylor said that MicroStrategy had backtested his strategy many times before investing in bitcoin and had prepared well enough to go through these challenging situations.
Michael Saylor believes that Bitcoin is the best-performing asset
Saylor spoke on CNBC, claiming that bitcoin has displayed the signs of a best-performing asset compared to gold and other alternative investments. He also stressed why he believes that bitcoin will overthrow other assets in terms of performance. He said that his bitcoin strategy was framed in August 2020, and it has performed ten X better than any other asset.
“If I gave you $100 billion, you can’t reproduce it, and it’s beyond the nation-state attack or corporate attack. So once you understand that and the fact that it’s a singularity there’s nothing like it in the world, then, yeah, this is an ideal entry point to get into this thing.”
Michael Saylor
He also spoke about the margin call situation and stated that the whole scenario has made him Twitter famous.
“On a multi billion dollar balance sheet, we’ve only got a 200 million dollar loan that we have to collateralize, and we’re ten X over collateralized on that right now.”
Saylor said that the cross-over point of bitcoin is four years. He also stressed that nobody had lost their money by investing in bitcoin for four years. MicroStrategy’s current BTC holdings stand at 129,918 coins, and he thinks now is the best time to buy bitcoin for the long term.