Despite suffering an unrealized loss of over $1 billion in Bitcoin in the current bear market, Michael Saylor’s faith in the asset is unwavering. Amid fears of Bitcoin freefall on Tuesday, he said his firm was well prepared for such a situation. His firm Microstrategy made provisions for volatility before adopting a Bitcoin strategy, he explained.
‘Bitcoin, The Best Performing Asset’
Speaking to CNBC on Wednesday, Saylor said his firm had back-tested its Bitcoin strategy against every other alternative. Michael Saylor said the firm’s Bitcoin strategy was done when Microstrategy took the Bitcoin plunge back in August 2020.
In fact, he emphasised on 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.
The Microstrategy CEO 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.”
