Bitcoin

The post <a href="https://coinpedia.org/news/michael-saylor-reacts-to-bitcoin-dipping-below-50k-says-bitcoin-volatility-is-a-feature-not-a-bug/" rel="noopener noreferrer nofollow">Michael Saylor Reacts To Bitcoin Dipping Below $50k; Says ‘Bitcoin Volatility is a Feature, Not a Bug’</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Michael Saylor, MicroStrategy’s executive chair and co-founder, opened up about Bitcoin’s superiority in long-term capital management during an interview with Bloomberg Television. He was asked about Bitcoin’s recent dip below the $50,000 level and MicroStrategy’s decision to acquire an additional 169 Bitcoin for just over $11 million in July. The interviewer asked, “When you see that dip below $50,000, do you dive right in, and to what degree?”
He replied, “I think that we’re always buying Bitcoin every quarter by quarter by quarter. It’s a long-term strategy. But the most important point for people to understand is that Bitcoin volatility is a feature, it’s not a bug. The volatility creates tens of billions of dollars of credit and liquidity at all times everywhere to everyone in the world in the short term. But over the long term, that volatility is driving superior asset performance and durability. So it’s volatile because it’s functional.”
When Michael was asked if it’s a problem for Bitcoin to lose 10 or 20% over a few trading sessions, considering it’s used as a store of value, he explained that the reason Bitcoin fluctuates is because it’s functional. He described it as digital capital, superior to physical or financial capital. Michael said that Bitcoin is a capital investment that can be held for decades, and no corporation, competitor, counterparty, or country can take it away.&nbsp;
It has the potential to create generational wealth for your family, corporation, or country. He said that one can liquidate it anytime, anywhere in the world, or hold it without active management or business expertise. Despite its volatility, Michael believes Bitcoin is vastly superior to any other option for long-term capital management, and the world is just beginning to recognize this advantage.
When asked about the psychology behind these pullbacks and how much he’s willing to invest during dips, Michael explained that they view Bitcoin as “cyber Manhattan.” Just as there’s never a bad time to buy valuable real estate in a prime location, there’s never a bad time to buy Bitcoin.&nbsp;

Michael Saylor Reacts To Bitcoin Dipping Below $50k; Says ‘Bitcoin Volatility is a Feature, Not a Bug’

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