In a recent interview with CNBCCNCB, MicroStrategy’s CEO, Michael Saylor, touched on the present state of his firm and its massive investment in BTC since August 2020.
Saylor said Bitcoin had performed ten10 times better than any other asset, including the S&P 500, gold, and Nasdaq 100 index.
Microstrategy CEO @saylor says now is a great buying opportunity for #Bitcoin, calling it an “ideal entry point.”@CNBC pic.twitter.com/mzOYY1Heqp
— Squawk on the Street (@SquawkStreet) June 15, 2022
He mentioned that gold dropped 10% since August 2020, the Nasdaq was flat, and Bitcoin rose by 86% during that period.
Bitcoin is the best-performing asset over any period – two years, four years, eight years, etc. – and he cannot think of a better idea than to invest in Bitcoin. Previously, he said that Bitcoin was the best investment.
Bitcoin may appear to be a dangerous, fluctuating asset for a one-month investment. However, for an investor with a ten-year horizon, Bitcoin is a risk-free store of value assets.
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“No one has ever lost money investing in Bitcoin for at least four years,” he stated, implying that this is the bare minimum for purchasing BTC. He also suggested that the level of $21,685 for Bitcoin is a four-year simple moving average. BTC has only reached this level a handful of times in the past and has already done so.
Saylor referred to this pricing point as a fantastic purchasing opportunity and a good entrance point.
Peter Schiff, a prominent Bitcoin hater and gold enthusiast, blasted Saylor in a recent tweet promoting Bitcoin on CNBC and disparaging gold.
Disgraceful. @CNBC gave their favorite #Bitcoin pumper @saylor more unchallenged airtime to spread lies about Bitcoin and bash #gold. CNBC even let him get away with bragging that borrowing to buy Bitcoin was the single best investment $MSTR could’ve made, despite being down 30%!
— Peter Schiff (@PeterSchiff) June 15, 2022
