Bitcoin Hits $100,000 Milestone: MicroStrategy Exec Chairman Michael Saylor Explains Why He's a Consistent Buyer
As bitcoin reached the significant milestone of $100,000 for the first time, it sparked interest and curiosity among investors and enthusiasts alike. In a recent conversation with Market Domination Hosts Julie Hyman and Josh Lipton, MicroStrategy (MSTR) executive chairman Michael Saylor shared his perspective on the cryptocurrency's rise and explained why his company has become a consistent buyer of bitcoin.
According to Saylor, his strategy for investing in bitcoin is quite straightforward: "Every day for the past four years, I've said buy bitcoin, don't sell the bitcoin. I'm going to be buying more bitcoin. I'm going to be buying bitcoin at the top forever." He emphasized that this approach is based on a simple yet powerful idea – to continuously purchase and hold onto bitcoin as a long-term capital asset.
Saylor's views on investing in bitcoin are rooted in his conviction that it will continue to appreciate against the dollar over time. In his own words, "It's going to appreciate against the dollar forever." He urged investors not to be deterred by short-term volatility, instead focusing on a longer-term perspective of at least four years or more.
To illustrate this approach, Saylor provided a practical example: "I say dollar cost average into bitcoin every quarter. Sweep some long-term savings into bitcoin. Expect to keep it there for a decade or longer, and don't get too worked up over the volatility in the near term." By spreading investments over time, investors can reduce their exposure to market fluctuations and increase their chances of benefiting from bitcoin's potential growth.
Saylor's emphasis on holding onto bitcoin for extended periods is aimed at helping investors navigate the challenges associated with short-term price movements. He acknowledged that understanding the underlying applications of bitcoin may not be essential for investors, as long as they hold onto it with confidence in its value. As he noted, "You don't have to understand how we do it. You just need to hold your bitcoin and let us drive the price up."
The video conversation between Saylor, Hyman, and Lipton delves deeper into his perspective on bitcoin, highlighting the potential for long-term wealth creation through this digital property. By watching the full discussion, investors can gain a more comprehensive understanding of Saylor's thoughts on bitcoin and the future prospects it holds.
For those interested in exploring more expert insights and analysis on market trends, a dedicated resource is available – Market Domination. This platform offers an extensive collection of videos featuring industry experts discussing various topics related to finance, investing, and entrepreneurship.