Michael Saylor on bitcoin: ‘hold on to it and stomach the volatility’

2023-5-3 17:25

MicroStrategy Inc narrowed its bitcoin-related loss in the first quarter. Its executive chairman Michael Saylor remains bullish as ever on bitcoin. Bitcoin is currently up roughly 70% versus the start of the year 2023.

Bitcoin has lost about 7.0% in recent weeks but Michael Saylor – the Executive Chairman of MicroStrategy Inc remains convinced as ever in its long-term potential.

Michael Saylor on MicroStrategy’s Q1 results

Earlier this week, the Nasdaq-listed firm said impairment loss related to its bitcoin holdings narrowed more than 90% sequentially to $18.9 million in the first quarter. According to Saylor:

Bitcoin is the ultimate digital scarcity network. It’s moved up about 50% on average over the last three years. The key with bitcoin is to be able to hold on to it and stomach the volatility.

MicroStrategy now owns a total of about 140,000 bitcoins. Naturally, therefore, the recent surge in BTC that’s still up some 70% for the year has been a meaningful tailwind for the company.

“MSTR” has more than doubled since the start of 2023.

Why is bitcoin price on the rise this year?

Saylor attributes strength in the price of bitcoin this year partially to inflation that’s still running at an annualised rate of 5.0% in the United States – well above the Fed’s 2.0% target.

The recent bank failures, he added, have also hurt confidence in the fiat currencies. On CNBC’s “Closing Bell: Overtime”, Saylor said:

Bitcoin is a bank in cyberspace run by incorruptible software. So, the phase be your own bank has emerged as an investment idea in the United States.

Interestingly, he dubbed the ongoing crypto crackdown a benefit for bitcoin as well since it has established a reputation as the safe-haven asset.

The post Michael Saylor on bitcoin: ‘hold on to it and stomach the volatility’ appeared first on CoinJournal.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) íà Currencies.ru

$ 67826.84 (+0.19%)
Îáúåì 24H $29.347b
Èçìåíåèÿ 24h: -0.85 %, 7d: -3.05 %
Cåãîäíÿ L: $67649.64 - H: $68812.85
Êàïèòàëèçàöèÿ $1336.887b Rank 1
Öåíà â ÷àñ íîâîñòè $ 28254.98 (140.05%)

bitcoin michael saylor ever bullish remains currently

Èñòî÷íèê: coinjournal.net

bitcoin michael → Ðåçóëüòàòîâ: 126


Ôîòî:

Michael Saylor to Debate Canadian Billionaire and Gold Proponent Frank Giustra on Bitcoin

Michael Saylor, the CEO of MicroStrategy who became a Bitcoin believer earlier last year, and has since championed Bitcoins’ adoption by continually buying the asset for his company and educating other fintech companies to take part in accumulating some of the assets for their company’s reserve, will be going head to head with Frank Giustra, a […]

2021-4-6 12:43


Michael Novogratz Says POTUS Trump’s Economic Policies Make Him More Bullish About Bitcoin

In a recent Tweet, the recognized investor and founder of Galaxy Digital said that economic policies make him more bullish about Bitcoin (BTC) and digital currencies. There are several US leaders, including President Donald Trump and Vice President Michael Pence that suggest that the Federal Reserve (FED) should cut interest rates even further for the […]

2019-5-5 17:55


A Complete Explanation of the Michael Terpin, AT&T Lawsuit

Bitcoin thought leader Michael Terpin lost $24 million in various altcoins last year, and he is suing AT&T to recover that as well as $200 million in punitive damages. While this story has been covered by a few major outlets, none of them dug deep into the complaint in a way we thought properly covered […] The post A Complete Explanation of the Michael Terpin, AT&T Lawsuit appeared first on Coinjournal.

2018-8-25 00:36


Bitcoin [BTC] to hit $25000 in the upcoming months, says Michael Arrington

On 23rd July, Ran Neu-Ner at the Korea Blockchain Week interviewed Michael Arrington of Arrington’s XRP Capital, who also recently found the business information and data company called CrunchFund. During the discussion, he spoke about the underlying asset value of XRP, the token’s use-case, few of his favorite recently made investments for Arrington’s XRP Capital […]

2018-7-25 00:50


TechCrunch’s Michael Arrington Says Bitcoin (BTC) Price at $25,000 Soon

BTC to Reach $25,000 Soon Says TechCrunch Founder At the Korea Blockchain Week, Ran Neu-Ner had the chance to interview Michael Arrington, who runs Arrington’s XRP Capital. In this interview, one of the big topics of discussion was the potential to gain Bitcoin EFTs, which would revolutionize the cryptocurrency world. According to Arrington, this and […]

2018-7-24 22:07


Ôîòî:

PoWx Seeks to Change Bitcoin Mining with “Optical PoW”

Nonprofit organization PoWx has launched this week with the goal of boosting the idea behind proof of work (PoW) through more innovative algorithms. The company is seeking to decentralize Bitcoin mining and make it more accessible to consumers through a new technology that executives have dubbed “optical PoW” — a new type of hardware that utilizes a more advanced and energy-efficient form of laser technology as the cornerstone of mining.

2018-7-14 01:04


Ôîòî:

Not Just a Computer Program: Bitcoin and the Blockchain Meant To Be Clever Solutions for the Global Financial Crisis

Journalist, Paul Vigna, discussed the ideals behind Bitcoin and the blockchain, potential applications for the technology, and what the future may hold for cryptocurrency. A Life Changing Conference This week, Barry Ritholtz invited the well-known journalist, Paul Vigna, to be a guest on his popular show, “Masters in Business.

2018-7-13 04:00


äàëüøå åùå 77 íîâîñòåé →

Ïàðòíåðû Currencies.ru

Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru