Michael Saylor’s belief in Bitcoin remains strong, despite the unprecedented loss of $1 billion in the current market. He said his organisation was fully prepared for the Bitcoin freefall on Tuesday, amid fears of a drop in prices. Before adopting the Bitcoin approach, his company Microstrategy developed volatile provisions, he explains.
Saylor told CNBC on Wednesday that his company had also reviewed their Bitcoin strategy against all other options. When Microstrategy took over the decline of Bitcoin in August 2020, Michael Saylor announced that the company’s Bitcoin strategy was over.
Indeed, he stressed why he believes that Bitcoin will become a more efficient asset over time. He said BTC is the most efficient asset of any period, whether it is two, five, or ten years.
The CEO of Microstrategy went on to say that four years is a point to hold Bitcoin for profit. The moving average of BTC over the past four years is $ 21,685, he noted.
“Of course,” he replied when asked if it was a good time to invest. Bitcoin is supported by the world’s most powerful computer network. Passes a corporate or national attack. There is nothing like it in the world. As a result, he continued, this is a great time to get into Bitcoin.
Concerns about the recent shocking decline in Bitcoin, as well as a discussion about his company’s potential cash flow, he said:
“We only have a $200 million loan to collateralize on a multibillion-dollar balance sheet, and we are 10 times over-collateralized on that right now.”
