HomeCrypto NewsBitcoinMichael Saylor says: "Now is a great time to buy...

Michael Saylor Says: “Now is a Great Time to Buy Bitcoin”

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Michael Saylor said Microstrategy will continue to buy bitcoin despite the extreme fear that reigns in the market.

Michael Saylor, CEO and Founder of Microstrategy, reiterates his bullish stance on Bitcoin, dismissing rumors regarding the company being liquidated as the price of BTC drops.

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Saylor has also reaffirmed her commitment to keep buying bitcoins.

Even though Bitcoin is about to drop below $20.000, Michael Saylor firmly believes that buying Bitcoin almost two years ago was the best decision.

In his view, the asset has performed 10 times better than gold, oil, the Nasdaq index and any other option during that period.

In his latest interview with CNBC, Saylor said the company will continue to accumulate bitcoin at current prices.

Claiming that BTC is a store of value on a 10-year time frame, he argues that short-term volatility has no bearing on its nature.

He added that over a 4-year period, all BTC holders regardless of market conditions will not lose money.

He went on to explain that since BTC’s four-year moving average sits around $21.000, the current price is “a great buying opportunity”.

As MicroStrategy continues to generate cash flow they willkeep buying bitcoins, he noted.

MicroStrategy holds a total 129.218 BTC, with an average cost of about 30.700 dollars.

Saylor goes on to say a $205 million loan from Silvergate Bank only a small percentage of a company's balance sheet.

“On a billion-dollar balance sheet, we only have one $200 million loan that we have to collateralize, and the property is now 10 times overcollateralized.”

Therefore, he concludes that the company has a healthy balance sheet.

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