Connect with us

get a dubai visa and apartment with bitcoin

cryptocurrency

Michael Saylor: Crypto Traders will Always be Disappointed Because of Volatility

Published

on

Michael Saylor: Crypto Traders will Always be Disappointed Because of Volatility

LEARN HOW TO TRADE, BITCOIN, EOS, ETHEREUM, LIGHTBLOCKS MEDIA

Michael Saylor said Bitcoin’s volatility always disappoints some investors. The MicroStrategy CEO also stated that he sees his Bitcoin holdings as a long-term technology and savings investment.

In a recent interview with Sven Henrich of Northman Trader, the Bitcoin bull market Michael Seller explained that the volatility of cryptocurrencies always hurts those who invest purely for trading or speculation.

“The people that invest in bitcoin as traders – and they don’t, they don’t have a technology view or the macro view – they’re always going to be disappointed because of volatility.”

Saylor said.

He urged investors not to put more money into the Bitcoin and crypto markets than they could lose. This is important especially if they trade based on speculation. He added that he could not advise anyone planning to join in a short period to invest or trade bitcoin.

“If on the other end you have a 10-year technology conviction and a 10-year macroeconomic conviction, or if you have an ideological conviction, then take money that you can hold for ten years.”

Saylor added that the volatility of bitcoin does not impact him personally as he has invested the money he can afford to lose and can wait for the cryptocurrency to pick up from bigger sell-offs.

lightblocks interest on btc

Michael Saylor – The Bitcoin Man

MicroStrategy CEO Saylor is a key figure in the bitcoin and blockchain space. He has always emphasized that a cryptocurrency is a form of investment. Saylor believes this is a way to replace traditional assets like gold as a store of value. He also sees buying Bitcoin as a way to protect his investment from inflation and tax hikes.

For the past few months, he has been using Bitcoin as part of the company’s finances. Just last month, MicroStrategy sold $1 billion worth of shares, in part to buy more bitcoins. Previously, the company completed a $500 million bond sale to raise cash to buy more cryptocurrencies.

At the time of writing, MicroStrategy owes more than 100,000 Bitcoins. Compared to those who buy Bitcoin for trade or based on speculation, Saylor told Henrich that he is focused on the long-term and views himself as somewhat of a tech investor – not least because of bitcoin’s functionalities including ease of transfer and bitcoin applications.

“I am on the tech long-term tech investment, like the decade-long trend, and on the savings side.”

Saylor said.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.

Copyright © 2020 LightBlocks