• Michael Saylor, the former CEO of MicroStrategy, is a major believer in Bitcoin and its potential.
• Despite the volatile price swings in 2020-2022, he still sees it as a safe haven for investors.
• He believes that FTX ultimately helped the crypto space despite some hiccups.
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 saw many leading assets (like bitcoin) lose a minimum of 70 percent of their values over the course of 12 months, though Saylor remains bullish on BTC’s long-term prospects.
MicroStrategy Stock Tied to Bitcoin
At one point during this tumultuous period, MicroStrategy stock was so tied to bitcoin that when BTC prices fell, so did MSTR shares. However, things have ultimately turned around for the firm as Saylor pointed out recently: „When we think about our corporate strategy and its effectiveness…the most important benchmark is bitcoin’s performance. Nobody who talks about bitcoin points out that despite its volatility it’s been the best performing asset over the past two and a half years.“
FTX Helped Crypto Space
Not long ago, Saylor commented on the FTX debacle and said that while it was no doubt harrowing experience for those involved, it ultimately helped the crypto space in many ways by bringing attention to stablecoins and other digital assets beyond just BTC.
Bitcoin as Safe Haven
Saylor believes that when it comes to institutional investors seeking safety from market volatility and speculation elsewhere outside traditional investments like stocks or bonds then „the only real safe haven is bitcoin“. He explains further: „Bitcoin is the only universally acknowledged digital commodity…so if you’re an investor, bitcoin is your ’safe haven‘ in this regard.“
Despite all its ups and downs over recent years, Michael Saylor remains firmly convinced in Bitcoin’s potential as an investment vehicle – something which he will continue investing heavily into going forward with his company MicroStrategy at least until 2024. Further conversations around stablecoins and other digital assets brought into focus by FTX are also likely to play an even bigger role moving ahead as well given their heightened interest from institutional investors such as himself lately.