Bitcoin took a nosedive this week. Japan's stock market crash was to blame. It showed how the crypto asset can go haywire during economic turmoil.
Michael Saylor, MicroStrategy's co-founder and Executive Chairman, has stepped up. He's addressing worries about Bitcoin's wild price swings.
Saylor shared his thoughts on Bloomberg Open Interest. He aimed to reassure investors about Bitcoin's role as a hedge and store of value.
The crypto evangelist doubled down on his faith in Bitcoin's long-term potential. He's not fazed by the current volatility.
"Bitcoin's volatility is a feature, not a bug," Saylor said. It's a bold claim, but he's sticking to it.
Short-term, Bitcoin's ups and downs can trigger global credit squeezes and liquidations. But Saylor sees it differently in the long run.
He reckons Bitcoin outperforms in the long haul. It's more durable too, he claims.
Why so volatile? Saylor says it's because Bitcoin works. Its "physics and politics" have disrupted other markets.
Saylor thinks Bitcoin beats physical or financial capital as a store of value. It offers freedom from counterparties, he argues.
"Bitcoin is a capital investment you can hold for decades," Saylor stated. "No corporation, competitor, counterparty, or country can take it away from you."
He sees Bitcoin as generational wealth. This applies to both retail and institutional levels, he claims.
Saylor believes Bitcoin trumps other long-term capital management options. Its decentralized nature is key, despite the volatility.
When's the right time to buy Bitcoin? Saylor's answer: anytime. He likens it to investing in Manhattan real estate.
MicroStrategy buys Bitcoin when they can. They pounce when they've raised enough capital.
Saylor stresses the importance of understanding market trends. It helps navigate Bitcoin's price swings.
His views offer a fresh perspective on Bitcoin's long-term value. Investors grappling with volatility might find some comfort in his words.
But let's be real. Bitcoin's still a wild ride. Saylor's optimism doesn't change that fact.