Michael Saylor Pauses Bitcoin Purchases as Price Dips Below $87K: A Strategic Move
Michael Saylor, the CEO of MicroStrategy, shared his strategy of holding onto Bitcoin during market drops rather than attempting to time the market by buying and selling. Saylor emphasized the importance of having a long-term approach to investing in Bitcoin, arguing that attempting to predict short-term price movements is a risky strategy.
According to Saylor, his company decided to hold on to their Bitcoin holdings even when the price dropped to $87,000 per coin. This decision was based on the belief that Bitcoin is a sound long-term investment that will continue to appreciate in value over time. Saylors strategy has paid off so far, with Bitcoin reaching new all-time highs in recent months.
Saylors approach to Bitcoin investing is in line with the philosophy of many long-term Bitcoin holders who believe in the cryptocurrencys potential to become a global store of value. By holding onto their Bitcoin holdings during market downturns, these investors aim to benefit from the long-term growth potential of the digital asset.
Overall, Saylors strategy of holding onto Bitcoin during market drops rather than trying to time the market by buying and selling has proven to be a successful approach. By taking a long-term view of their investments, Saylor and other Bitcoin holders are positioning themselves to benefit from the ongoing growth of the digital currency market.
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Text source: Crypto Breaking News
