MicroStrategy CEO, Michael Saylor, shared his opinion about the bitcoin crash, advising that emphasis should be longer-term retention and not trading
— Michael Saylor
JOHANNESBURG, GAUTENG, SOUTH AFRICA, June 9, 2022 /EINPresswire.com/ — In a recent interview, Michael Saylor, the CEO of MicroStrategy said, “If Bitcoin is not going to zero, then it’s going to a million”. While there is every chance that many crypto investors might not readily agree with this viewpoint, many might be already on the lookout for ways to recover from their loss, some ready to wait out the existing market sentiments, and others somehow holding on to their investment despite the recent lows. In a YouTube video, Michael Saylor upped the optimism by presenting his opinion on Bitcoin’s Proof-of-Work vs. Proof-of-Stake argument and spoke about why the crypto industry needs more clarity, and why the Terra Luna collapse is a good thing for Bitcoin—the video is on the YouTube channel managed by Smart Tech Ideas and provides insight about Michael Saylor’s Bitcoin Advocacy.
There have been many conflicting views about the recent Bitcoin crash in the crypto market and crypto investors could be divided about staying rooted in the market or contemplating an exit. While some crypto experts have indicated that it could be better to remain invested for a slightly longer period, investors can feel unsure whether holding on for a longer duration is going to be profitable. The trader versus the investor mindset seems to have brought about conflicting views, in a manner somewhat similar to the bear market. However, optimism around crypto recovery could be challenged as bigger organizations share updates that limit the use of Bitcoins for payments, particularly those that highlight the ecological aspect of crypto usage, such as the use of more fossil fuels for bitcoin mining.
Carol Alexander, Professor – University of Sussex Business School, had highlighted the mining aspect of the cryptocurrency when he said, “More and more electricity is being used”. With such reports in the public domain and any more news of pullbacks in cryptocurrencies, the investor’s confidence to remain invested can be shaken, and purchasing more might seem like a risk.
Despite the pessimism, MicroStrategy CEO, Michael Saylor has been a Bitcoin supporter, often saying that volatility is almost irrelevant for this cryptocurrency once people understand its fundamentals. He stated, “Why not invest it in a hard, hard money, maybe the hardest money the human race has ever invented, called Bitcoin, and just wait?”. MicroStrategy is among the bigger accumulators of Bitcoin. His views mirror those of crypto market watchers who have been tracking the role of Decentralised Finance or DeFi as one of the possible contributors to making cryptocurrency more volatile. An alternative financial ecosystem that tries to make the trade and purchase of cryptocurrency easier, and perhaps even less regulated, DeFi is putting a premium on using more computer code. Michael was also in the spotlight when he shared his opinion about Bitcoin being a better, digital asset than traditional investment options like gold or property.
A reversal can be perhaps brought about when more payments resume, accepting more crypto actions, stimulating more movement on crypto trading, and boosting crypto holding tendencies. This can catalyse the entire ecosystem, even helping cryptocurrency exchange companies that might have found recent months a constant downslide.
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