While the Bitcoin market is not optimistic with 7 consecutive “red candles”, Microstrategy CEO Michael Saylor still has absolute faith in this asset class. He believes in the long-term future of BTC and the current strategy is to buy and hold the coin.
Bitcoin is on fire again, losing the $30,000 mark
Today, BTC price has dropped to just over $29000 and is holding at this price.
BTC price drop makes the market gloomy, a series of smaller-cap virtual currencies fall into the red. Specifically, Ethereum down 4.8%, Binance Coin down 4.06%, Ripple down 4.4%, Cardano down 5.4%, Solana down 6.5%, Dogecoin down 4.5% Polkadot down 8%, TRON down 4.3%, Shiba INU down 6.5%…
Michael Saylor’s Belief in Bitcoin
Microstrategy CEO said: “I expect that we will continuously buy and swing BTC forever. At the same time I also expect that BTC will be worth millions of dollars. So we are very patient with this. We think it will be the future of money.”
In his view, BTC was sold off due to many factors such as the Fed raised interest rates, besides, BTC also suffered too much from the collapse of TERRA (LUNA). According to him, this is also a great lesson for investors when investing in this industry and there is a stronger mentality to recover BTC after this sell-off.
He also believes that Bitcoin eventually wins over other cryptocurrencies and does not need to explain the superiority of BTC over 19,000 cryptocurrencies in the current Crypto market.
In a recent post on his Twitter account Michael Saylor downloaded a free course on Bitcoin to invest and hold this digital asset.
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