On June 6, Michael Saylor, CEO of MicroStrategy, said that Bitcoin’s short-term volatility is mostly irrelevant. Investors need not be concerned by Bitcoin’s short-term volatility, according to Saylor, provided they understand the fundamentals of the top cryptocurrency and how difficult it would be to create anything better.
“Bitcoin is the most certain thing in a very uncertain world,” Saylor remarked recently. “It’s more certain than the other 19,000 cryptocurrencies, it’s more definite than any stock, it’s more certain than buying property anywhere in the world.”
MicroStrategy is still one of the firms that has the most Bitcoin in the world. Saylor insists that MicroStrategy does not intend to sell its bitcoin holdings anytime soon, despite spending billions on them in recent years.
Since reaching an all-time high in November 2021, the cryptocurrency market has lost more than half of its value. While many people feel we are in a bear market, Saylor is not convinced. He remarked; “I’m not sure whether this is a bear market or not, but if it is, we’ve had three in the previous 24 months.”
If you’re not going to keep it for four years, you’re a trader, and my recommendation to traders is to invest in it rather than trade it. “
In November 2021, Bitcoin achieved an all-time high of $69k. However, the most valuable cryptocurrency has lost more than half of its value since then. At the time of writing, BTC was trading at around $31,000 per coin.
The whole cryptocurrency market value also reached $3 trillion in November, but is now down to $1.3 trillion, a drop of more than 55% over the previous six months.
