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Over the past six weeks, the company MicroStrategy shelled out billions of dollars to buy Bitcoin at a considerably high price. In fact, in the most recent acquisition of 15,350 BTC (this December 16), the company paid $100,386 for each coin. Buying a volatile asset with a price near all-time highs seems to defy theory, but the company has an explanation.
During an interview with CNBC, the company’s CEO, Michael Saylor, explained the reasons for this procedure. As is well known, logic dictates that risk assets should be bought when their price is low to take profits when it rises. In fact, this is what whales generally do to increase their wealth.
However, Saylor has no intention of liquidating his company’s holdings in BTC. Your strategy is to buy regardless of whether the price crashes for a winter or is at all-time highs. The limited issuance of BTC, coupled with the accelerated increase in adoption, guarantees that the currency will appreciate permanently.
In that sense, any time you decide to buy Bitcoin, it will always be a cheap purchase, according to Saylor. The latter, considering that it is an asset that is in its early stages. The businessman compares the current investment in BTC with the investment in Manhattan 100 or 200 years ago.
Buying Bitcoin is a winning bet regardless of the price
During the aforementioned interview, Saylor stressed that an abstract person who bought properties in Manhattan 100 years ago acquired them at a slightly more expensive price compared to those who bought before him. However, this fact did not affect the long-term winning prospects of the investment at all. Both buyers amassed a fortune over time thanks to both buying at an early stage.
The same thing happens with Bitcoin, explains the popular BTC evangelist. This is an asset that has been in circulation for less than 20 years. Decades from now, when looked back on, investments in 2013 and 2024 will be considered early purchases alike.
According to Saylor’s vision, both companies and individuals that inject capital into Bitcoin will have enormous returns in the long term. The latter explains why his company, MicroStrategy, is not intimidated by warnings that it is buying BTC at very high prices.
The company’s enormous returns since it began its BTC adventure prove that its strategy is a winner. So much so, that other companies emulate it and in recent months corporate purchases of Bitcoin reach levels unimaginable just a few years ago.
According to Saylor’s predictions, the price of Bitcoin will reach $13 million per coin in the long term.
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