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MicroStrategy CEO says Bitcoin will not repeat previous cycles
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Michael Saylor, founder of MicroStrategy, is a prominent figure in the cryptocurrency world, known for his enthusiastic advocacy of Bitcoin (BTC). In a recent interview with Yahoo Finance, Saylor assessed that the possibility of an 80% drop in the price of Bitcoin is extremely low. Saylor said that unlike previous cycles, the current market is devoid of insolvent companies that previously contributed to steep declines.
Michael’s answer goes against what some analyzes say, which state that BTC, after surpassing the US$100,000 mark, should fall to around 20% of its value, repeating what happened in previous cycles.
During the interview, which may be followed here, Saylor reinforced that investors adopt a “dollar cost averaging” strategy, that is, investing a fixed amount in Bitcoin regularly, regardless of market volatility. He suggests that if you have money you won’t need for four to ten years, you should consider Bitcoin as a long-term asset, just as you would real estate or works of art.
He also compared the purchase of Bitcoin to the acquisition of properties in Manhattan – the New York district with the most expensive m² on the planet – over the centuries, stating that, if you had the opportunity to buy properties in Manhattan since 1650, you would have continued to accumulate, as the value of these properties would only increase.
Strategy maintained
Regarding the supposed sharp drop in Bitcoin — which, after bullish cycles, usually retracts around 80% — Saylor argued that, for such a sharp drop to occur, it would be necessary for insolvent companies to be present in the market, as occurred in other cycles.
He highlighted that, currently, there are no such problematic companies, which, according to him, significantly reduces the chances of a similar collapse. Saylor ends his participation in the Market Domination program by making a prediction for the Bitcoin is expected to maintain growth of 60% per year over the next few years, which is expected to slow to 20% over 21 years.
Therefore, according to Michael, BTC’s volatility should decrease as the asset matures, resulting in smoother fluctuations.
MicroStrategy CEO says Bitcoin will not repeat previous cycles
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MicroStrategy CEO says Bitcoin will not repeat previous cycles
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MicroStrategy CEO says Bitcoin will not repeat previous cycles
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MicroStrategy CEO says Bitcoin will not repeat previous cycles
