‘Bitcoin’s current volatility is irrelevant’, says MicroStrategy’s Michael Saylor

MicroStrategy CEO Michael Saylor is an avid Bitcoin supporter. For him, Bitcoin’s volatility is irrelevant once you understand its fundamentals and how difficult it would be to create something better.
“Bitcoin is the most certain thing in a very uncertain world, it’s more certain than the other 19,000 cryptocurrencies, it’s more certain than any stock, it’s more certain than owning property anywhere in the world,” Saylor said in an interview with The Block.
Saylor believes that people who have invested at least $100 in Bitcoin can speak about it but others shouldn’t have any opinion about it.

The recent crypto market crash has plunged the money of all investors. But, Saylor has some advice for all crypto investors. “I don’t know if it’s a bear market or not, but if it is a bear market, then we had three of them in the last 24 months. If you’re not planning to hold it for four years, you’re not an investor at all, you’re a trader, and my advice for traders is don’t trade it, invest in it,” he said.Best of Express PremiumPremiumPremiumPremiumPremium
Commenting on the market volatility in January, he pointed out the emergence of Decentralised Finance (DeFi) exchanges made cryptocurrency more volatile. DeFi is an alternative finance ecosystem where consumers transfer, trade, borrow and lend cryptocurrency, independently of traditional financial institutions and the regulatory structures that have been built around banking. The DeFi movement aims to “disintermediate” finance, using computer code to eliminate the need for trust and middlemen from transactions.
“You have a lot of leverage offshore. You have a lot of crypto exchanges that can trade with up to 20x leverage. And those crypto exchanges have many, many tokens that are cross-collateralized. Between them and the decentralized finance [DeFi] exchanges, you can get much higher than 20x leverage,” he said earlier in January.
Earlier in August 2021, MicroStrategy announced that it had purchased $250 million worth of Bitcoins to use as a “primary treasury reserve asset”. The company has continued to accumulate Bitcoin and its CEO has become one of Bitcoin’s most vocal advocates. It is worth noting that MicroStrategy currently owns 1,24,218 Bitcoins.