Michael Saylor's Best Takes On Bitcoin

Table Of Content

• Content

  • Introduction

• Conclusion

• FAQ

• You May Also Like

• External Links

Introduction

Michael Saylor is undeniably the most influential person in the world when it comes to Bitcoin. Therefore, it is essential to pay close attention to what he has to say since the remarks he makes have a tremendous amount of weight and importance. Michael Saylor put together a list of the top 10 Bitcoin quotes for the month of October.

10. "Cash and credit become collapsing liabilities in the wake of excessive inflation." You may transform your obligations into assets by converting your balance sheet to Bitcoin.

Breakdown. Saylor is drawing attention to inflation, which is now the most contentious issue being discussed in the circles that determine economic policy in the United States. The recovery of the global economy has been delayed by a number of factors, including inflation, decreased demand, and broken supply networks. Inflation in the United States, which typically hovers around 2% on average, is presently at 5.4%. The most severely affected industries by the pressures of inflation are those involving previously owned automobiles and trucks; beef steaks; bacon; and accommodations. Most significantly, inflation in the United States has been one of the primary driving forces behind the post-pandemic bull run in Bitcoin and cryptocurrencies, and it does not look to be slowing down anytime soon.

9. "When seen in hindsight, it was unavoidable that financial institutions would adopt bitcoin."

Analysis. In the early days of cryptocurrency, Wall Street behemoths such as JPMorgan Chase and Goldman Sachs investigated methods not only to exert control over bitcoin but also to slow down its rate of adoption. In point of fact, Jamie Dimon, the Chief Executive Officer of JPMorgan Chase, has referred to Bitcoin as a "fraud" and described it as being "worthless." Despite this, it is clear that his words have not slowed down the asset in any way. In point of fact, the reverse is taking place: the price of Bitcoin has rebounded from its lows in July 2021, and more bank acceptance is underway.

For instance, Bank of America has the most patents in the field of digital payment technology, and the company's chief operating officer, Thomas Montag, has shown an interest in cryptocurrencies. The US Bank made the announcement on October 5 that it would begin providing bitcoin custody services to investment managers. Lastly, Goldman Sachs is providing customers of hedge funds with information on cryptocurrencies that was compiled by the data business The Block. These are just some of the instances that demonstrate how banks are beginning to accept Bitcoin and other cryptocurrencies, but there are many more.

8. "You may not be interested in Bitcoin, but Bitcoin is interested in you," despite the fact that you may not be interested in Bitcoin.

Takeaway. There are already over 100 million people using cryptocurrencies all around the globe. In the United States, 64 percent of individuals are "crypto-curious," and 14 percent of people in the country currently hold cryptocurrencies. As a result, there has been a discernible increase in interest. Nevertheless, consumer search data from Google in the year 2020 reveals that people living in Africa and Latin America made up eight of the top ten nations with the highest interest in Bitcoin. This indicates that interest in Bitcoin in "the West" is still behind where it should be.

Saylor is making the point that even while there is not a greater interest in Bitcoin, it still has an inherent incentive to pursue broader acceptance. despite the fact that there is not a greater interest in Bitcoin. After all, its objective is to serve as an improved peer-to-peer implementation of electronic currency (one that is resistant to inflation), and its total supply of tokens is restricted at 21 million, which means there is opportunity for further purchasers. So, whenever there is a crisis in the economy, like the one going on right now, people's thoughts slowly start to turn to Bitcoin.

7. "Bitcoin is breaking out from other cryptocurrencies owing to regulatory expectations, making it the obvious option for institutional investors seeking digital property as a store of value."

Reaction. This year, one of the primary causes that drove growing uncertainty in the cryptocurrency markets was regulatory headwinds, particularly coming from the United States and China. The cryptocurrency market had a slump last summer as a direct result of China's regulatory crackdown; however, prices started to rise in August and September after the drop. In addition, the claimed reports that the United States government was about to start cracking down on cryptocurrencies turned out to be far less serious than what was expected. As a consequence, prices have started to stabilize, and Bitcoin is still trading at over $60,000 per coin.

In addition, with reference to financial institutions as investors, Bloomberg reports that the cryptocurrency market has received over $17 billion in capital investments from financial institutions only this year. Finally, a poll conducted by Nickel Digital Asset Management revealed that 82 percent of those investors intend to increase their cryptocurrency holdings over the next two years.As a result, Michael Saylor's conclusion that institutional investors are looking at Bitcoin and other cryptocurrencies as trustworthy repositories of wealth is absolutely spot on.

6. "There is no end to this." #Bitcoin "There is no end to it."

Translation. Because there is no upper limit on the value of bitcoin, many financial institutions and CEOs like Cathie Wood believe it is capable of reaching $500,000. Because of this, it does not make a difference if you purchase it for $30,000, $40,000, $50,000, or $60,000. What matters is how long you have it for, particularly considering how much potential there is for improvement.

5. "The implicit endorsement of Bitcoin by major banks and regulators is going to accelerate the collapse of gold and the rise of Bitcoin as the preferred safe-haven store of value for both institutional and retail investors."

Lesson learned. The most important thing to take away from this is that Bitcoin is posing a threat to gold's position as a store of value. The idea that Bitcoin is a store of wealth that is on par with or even superior to gold is being promoted by a growing number of institutional and individual investors. This is reflected in the price of gold, which has stayed pretty much the same over the last ten years.

4. "Only invest what you can't afford to lose. #Bitcoin" is the fourth rule of Bitcoin investing.

Philosophy. This adage refers to the golden rule of investing, which is "never put up more money than you can afford to lose." However, many investors have only risked tiny sums of money since they choose to invest just what they can afford to lose, which is considered a safe bet. Because of this, they have been unable to take advantage of the great business potential that Bitcoin presents. For instance, in July 2020, the firm owned by Michael Saylor, MicroStrategy, made the huge and outrageously hazardous move to declare that they were going to investigate the possibility of acquiring Bitcoin as an alternative to storing cash. After that, throughout the next month, MicroStrategy used $250 million of their financial reserves to buy 21,454 Bitcoin. Over 90,500 bitcoins are currently in MicroStrategy's possession. Many people voiced their disagreement with Saylor's choices and attacked him for ostensibly transforming MicroStrategy into a Bitcoin investing business. Saylor, on the other hand, came to the conclusion at the end of the day that he could not afford to miss out on the chance to purchase Bitcoin. Therefore, you should never invest money that you cannot afford to lose.

3. "The supply of bitcoin will never be increased above 21 million."

Fact. The evidence suggests that this particular point is not only uncomplicated but also of the utmost significance. There are currently 18.8 million BTC available for purchase, but no more than 21 million Bitcoin will ever exist.As a direct consequence of this, the supply remains stable. Bitcoin is a deflationary asset because of this, which is also important for its value to stay the same.

2. "Trading Bitcoin is comparable to trading Apple, Amazon, Google, or Facebook a decade ago." The more you let your obsession with timing the market drive your decisions, the more errors you will make. They were all preeminent technological networks that were poised for expansion and dominance. The best course of action is to purchase bitcoin and then to wait.

HODL. This is a tribute to those who trust in the long-term value of their investments, and it is also a shoutout to GameKyuubi, the person who came up with the phrase "HODL" when he realized that attempting to time the market was a losing bet. Michael Saylor is completely correct in saying that early adopters of Bitcoin have created a significant amount of wealth for themselves. For instance, in the year 2020, investors in the United States earned profits of $4.1 billion. However, the best way to approach Bitcoin right now is to purchase some and then wait.

1. "The halls of eternity reverberate with the laments of those who sold their bitcoin."

#Laszlo. People who buy Bitcoin and keep it for more than 155 days are considered to be long-term holders of the cryptocurrency. You can probably understand how challenging it is to accomplish this goal, which is to have diamond hands during times of market turbulence. This is a really tough thing to achieve. The notorious Laszlo Hanyecz, the guy who sold 10,000 Bitcoin for two pizzas from Papa John's, is said to have nightmares over this phrase. On the other hand, he is by himself. "Buy the rumor, sell the news" is a common mantra heard among the millions of day traders that participate in market activity. And when the market crashed, as it did in May and June of 2021, a good many of those day traders cashed out their positions. Those individuals are the ones who are sobbing right now.

Conclusion

Saylor is making the point that even while there is not a greater interest in Bitcoin, it still has an inherent incentive to pursue broader acceptance. despite the fact that there is not a greater interest in Bitcoin. Saylor, on the other hand, came to the conclusion at the end of the day that he could not afford to miss out on the chance to purchase Bitcoin. Therefore, you should never invest money that you cannot afford to lose.

FAQ

At what cost did Saylor make his purchase of bitcoin?

According to the filing, the total purchase price for all of its bitcoin comes to around $3.98 billion, with an average purchase price of approximately $30,639 per bitcoin. This figure takes into account all fees and expenditures.

When it first began, how much did one bitcoin cost?

One Bitcoin started out at a cost of nothing.The originator, who goes by the pseudonym Satoshi Nakamoto, is credited with publishing the now-famous Bitcoin white paper, in which he explains how the new system would function.

Will MicroStrategy offer bitcoin for sale in the near future?

MicroStrategy (MSTR), a software company that has become a corporate vault for bitcoin (BTC), plans to sell up to $500 million worth of shares to raise money for more purchases of the cryptocurrency.

Is Michael Saylor a virtual currency like bitcoin?

The Crux of the Matter Saylor was one of the original founders of MicroStrategy in 1989, and in recent years, the firm has gained notoriety for holding more bitcoin than any other publicly listed business.

That's all for today, see ya tomorrow! If you want more, be sure to follow our Twitter (@croxroadnews)

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

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External Links

1. Michael Saylor snubs claims he doesn’t use Bitcoin Lightning Network

2. First Mover Asia: The Michael Saylor Tax Case and What It Means; Bitcoin Wrestles With $20K

3. MicroStrategy's Saylor Makes Smallest Bitcoin Buy in More Than 2 Years

4. MicroStrategy’s Bitcoin king just saw his stash fall to a grim new milestone

5. Bitcoin Is Headed for $68,990, Michael Saylor Says. Next Stop: $500,000.