{"id":15307,"date":"2022-11-24T13:36:42","date_gmt":"2022-11-24T13:36:42","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/first-time-bear-market-advice-from-bitcoin-bull-michael-saylor\/"},"modified":"2022-11-24T13:36:44","modified_gmt":"2022-11-24T13:36:44","slug":"first-time-bear-market-advice-from-bitcoin-bull-michael-saylor","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/first-time-bear-market-advice-from-bitcoin-bull-michael-saylor\/","title":{"rendered":"First time Bear market? Advice from Bitcoin Bull Michael Saylor"},"content":{"rendered":"
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First-time bear market? It\u2019s also the first Bitcoin (BTC) bear market for Michael Saylor, one of the world\u2019s biggest Bitcoin bulls.\u00a0<\/p>\n
Executive chairman of one of the world\u2019s largest pro-Bitcoin companies, Saylor took a moment out of his busy schedule at the Los Angeles Pacific Bitcoin conference to speak with Cointelegraph. Crucially, Saylor told Cointelegraph that when it comes to Bitcoin, \u201cYou have to take a long frame time perspective.\u201d <\/p>\n
\u201cIf you\u2019re buying [Bitcoin] and you\u2019ve got less than a four-year time horizon, you\u2019re just speculating in it. And once you\u2019ve got more than a four-year time horizon, then the obvious thing is you dollar cost average.\u201d<\/p><\/blockquote>\n
Dollar-cost averaging is a way of\u00a0reducing exposure to the volatility of an investment.\u00a0Saylor continued, “You buy the asset that you want to hold for a decade or longer, which is the long-term store of value.\u201d<\/p>\n
<\/strong>At 130,000 Bitcoin, Microstrategy owns 0.62% of the total supply of Bitcoin, as the total Bitcoin mined is restricted to 21 million. MicroStrategy\u2019s entry price is roughly $30,639 per BTC, meaning the technology group\u2019s total investment is substantially underwater \u2014 were they to sell for dollars.<\/p>\n