Michael Saylor Emphasizes Bitcoin’s Importance Amidst Price Fluctuations
Michael Saylor, a prominent Bitcoin advocate and the chairman of MicroStrategy, has once again emphasized the importance of the leading cryptocurrency despite current price fluctuations. In recent days, Bitcoin experienced a temporary decline in value, dropping to $56,000, one of its lowest levels in the past two months. Against this backdrop, Saylor highlights that Bitcoin remains a crucial asset that should not be overlooked.
Saylor stated, «Bitcoin is money you can’t afford to lose.» This statement is particularly relevant following the recent price drop of the cryptocurrency and the liquidation of traders’ positions who were betting on Bitcoin’s rise. Over 141,000 traders faced losses, with the total amount of liquidated positions exceeding $400 million.
To support his argument, Saylor released a short video comparing the performance of Bitcoin to traditional investments such as the S&P 500 index, gold, U.S. real estate, and various currencies. The video shows that since 2016, Bitcoin has shown an annual growth of over 100%, while traditional investments like gold and U.S. real estate had much lower returns. For example, in 2019, gold and real estate increased by about 20%, while currencies like the Turkish lira and the Argentine peso significantly depreciated.
Saylor concluded that Bitcoin is a reliable hedge against the instability of traditional currencies and inflation. His message aims to remind investors of the long-term advantages of cryptocurrency and its importance in an investment portfolio, despite short-term price fluctuations.
