Financial Insights That Matter
After bitcoin (BTC-USD) reached the $100,000 milestone for the first time, MicroStrategy (MSTR) executive chairman Michael Saylor joins Market Domination Hosts Julie Hyman and Josh Lipton to discuss the cryptocurrency’s rise and explain why MicroStrategy has become a consistent bitcoin buyer.
“Every day for the past four years, I’ve said buy bitcoin, don’t sell the bitcoin. I’m going to be buying more bitcoin. I’m going to be buying bitcoin at the top forever,” Saylor says, adding that his strategy is “a very simple idea” to “just keep buying bitcoin with your spare capital. It’s going to appreciate against the dollar forever.”
He tells Yahoo Finance, “I think you should think of bitcoin as a long-term capital asset. So, if you have money you don’t need for four years or, even better yet, for ten years, you put it into a portfolio … I say dollar cost average into bitcoin every quarter. Sweep some long-term savings into bitcoin. Expect to keep it there for a decade or longer, and don’t get too worked up over the volatility in the near term.”
“You may not know the applications [for bitcoin]but there are applications. MicroStrategy makes a lot of money by holding that digital property. We’re generating massive amounts of shareholder value from that. So, you don’t have to understand how we do it. You just need to hold your bitcoin and let us drive the price up.”
Watch the video above for more on how Saylor thinks about bitcoin and his bullish outlook for the cryptocurrency.
To watch more expert insights and analysis on the latest market action, check out more Market Domination here.
This post was written by Naomi Buchanan.
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