Bitcoin bull Michael Saylor says cryptocurrency volatility will always hurt those who invest purely for trade

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Michael Saylor, CEO of MicroStrategy

Joe Raedle / Getty Images

Michael Saylor said bitcoin’s volatility will always be disappointing for some investors. In an interview with Sven Henrich, Saylor said that anyone who invests solely in commerce might have problems. The CEO of MicroStrategy also said he views his bitcoin holdings as long-term savings and technology investments. Sign up for our daily newsletter, 10 things before the opening bell here.

Bitcoin bull Michael Saylor said the volatility of the cryptocurrency will always hurt those who invest solely for trade or on the basis of speculation in a recent interview with Sven Henrich of Northman Trader over the weekend.

“People who invest in bitcoin as traders – and they don’t, they don’t have a technological or macro view – they will always be disappointed because of the volatility,” Saylor said.

He urged investors not to invest more money than they can lose in the bitcoin and crypto markets, especially if they base transactions on speculation and said he was not. unable to give advice to anyone considering investing or trading with bitcoin for a short period of time. .

“If on the other end you have a 10-year technological 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 bitcoin’s volatility does not affect him personally as he has invested money he can afford to lose and can wait for the cryptocurrency to pick up after larger sales.

MicroStrategy CEO Saylor is a key figure in the online bitcoin and crypto space, who has always said that cryptocurrency is a form of investing. He sees it as a way to store value in place of traditional assets like gold and a way to protect his investments against rising inflation and taxes.

In recent months, he has made bitcoin a part of his business finances. MicroStrategy last month sold $ 1 billion worth of shares, in part to buy more bitcoin, after it already made a $ 500 million bond sale to raise funds for more purchases. of crypto.

At the time, the company owned 92,079 bitcoin – with a current value of over $ 3.2 billion based on the most recent bitcoin price according to Coingecko data.

Compared to those who buy bitcoin to trade with it or on the basis of speculation, Saylor told Henrich that he focuses on the long term and sees himself as a technology investor – not least because of bitcoin’s functionality, including ease of transfer and bitcoin. applications.

“I’m on the long-term technology investment, like the decade-long trend, and on the savings side,” Saylor said.

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