Bitcoin bull Michael Saylor says the cryptocurrency's volatility will always hurt those who invest purely to trade
Michael Saylorsaid bitcoin's volatility will always be disappointing for some investors.
- In an interview with Sven Henrich, Saylor said anyone who invests purely to trade could run into trouble.
MicroStrategyCEO also said he views his bitcoin holdings as long-term tech and savings investments.
Bitcoin bull Michael Saylor said the
"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 than they can lose into bitcoin and crypto
"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 said, adding that the volatility of bitcoin does not impact him personally as he has invested money he can afford to lose and can wait for the cryptocurrency to pick up from bigger sell-offs.
MicroStrategy CEO Saylor is a key figure in the online bitcoin and
In recent months, he has made bitcoin part of his company's financial. Just last month MicroStrategy sold shares worth $1 billion, in parts to purchase more bitcoin, after having already completed a $500 million bond sale to raise cash for more crypto buying.
At the time, the company owned 92,079 bitcoin - currently worth over $3.2 billion based on the most recent price of bitcoin according to Coingecko data.
In comparison to those who buy bitcoin to trade with it 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.
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