The former MicroStrategy CEO believes that despite the crisis in the crypto market, bitcoin has outperformed all assets in the long run and the first cryptocurrency will remain solid in the future.
Former MicroStrategy CEO Michael Saylor said in a recent interview for Stansberry Research that cryptocurrency volatility would only affect short-term investors and public companies. Bitcoin has outperformed all stock market projects over the long term, he said.
Since MicroStrategy adopted a bitcoin-focused strategy, it has significantly outperformed the S&P 500, Nasdaq, gold, the bond index and any major technology company stock. Saylor added that the only asset that has outperformed bitcoin during this period is MicroStrategy stock (MSTR).
Bitcoin is not suitable for everyone, he said, as many will not be able to cope with its volatility.
“Investing in bitcoin should be for the long term, it should be held for four years or longer. Ideally, it is an intergenerational transfer of wealth. The metric that backs this up is the four-year moving average,” explained Saylor.
He added that investing in short positions is much riskier because BTC is a highly volatile asset. Saylor believes that the events that led to the cryptocurrency’s recent collapse were driven by rising interest rates and a tightening of US Federal Reserve (Fed) policy.
According to him, the catalyst was the collapse of the Terra project, which affected many cryptocurrencies. He believes that the algorithmic Stablecoin was “an accident waiting to happen”. As the former MicroStrategy chief stated, these events had to happen in order to get rid of useless investors for the industry.
“If you believe in safe money, you should sell your gold and buy bitcoins,” Saylor said.
He added that market participants are now more educated and cautious about projects that generate huge profits.
Recall that Saylor recently announced his move from MicroStrategy as CEO to the newly created position of executive chairman.
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