• Michael Saylor – former CEO of MicroStrategy – is still confident in Bitcoin despite its volatility.
• Saylor’s investments in BTC have cost his company more than $1 billion.
• Despite the crypto space losing over $2 trillion in value, Saylor remains a bull for bitcoin and believes it is a safe haven for investors.
Michael Saylor Still Believes in BTC
Michael Saylor – the former CEO of MicroStrategy – is confident that despite all that’s happened over the past year or so, bitcoin is still a major safe haven for traders and investors. First beginning his bitcoin investments in late 2020, Saylor has continued to add the digital currency to his company’s balance sheet, a decision that has wound up costing MicroStrategy more than $1 billion at the time of writing.
2022 Crypto Market Meltdown
2022 – which was arguably the worst period on record for the digital currency arena – saw many leading assets (like bitcoin) lose a minimum of 70 percent of their values over the course of 12 months. Hitting a new all-time high of about $68,000 per unit in November 2021, BTC ended the following year in the mid-$16K range. Several other assets followed suit. This caused the space to lose more than $2 trillion in valuation.
Saylor Remains Optimistic
Despite these losses, Saylor is not about to give up his belief in BTC anytime soon. In a recent interview he commented: “The only real safe haven for an institutional investor is bitcoin… Nobody who talks about bitcoin points out that despite its volatility, it’s been the best-performing asset over past two and half years” He also pointed out that when it comes to corporate strategy effectiveness, one should look back at Bitcoin’s performance during summer 2020 as an important indicator – showing that although volatile, BTC has proven itself as being worth investing into longterm.
FTX Debacle Helped Crypto Space
Not long ago, Saylor commented on FTX debacle and said that while it was no doubt harrowing situation ultimately helped crypto space too remarking “The crypto meltdown was actually good because people were able to step back from FOMO [fear of missing out], take stock and look at what they had done wrong” .
Conclusion
Overall Michael Saylor still continues believe strongly that Bitcoin is an excellent investment opportunity – something backed by data showing its impressive performance both during summer 2020 as well as overall since late 2020 when he first began investing into cryptocurrency market with MicroStrategy stock purchases levered against Bitcoin prices .