Michael Saylor Shares Experience of Losing Six Billion Dollars Remains Positive During Bitcoins 16K Drop

In the year 2000, the CEO of software company MicroStrategy suffered a staggering loss of $6 billion. Looking back on this event, Saylor described the experience as extremely stressful and unpleasant. He emphasized the impact on shareholders, employees, and their families, highlighting that a stock market crash affects far more people than just the company’s executives.

During a chat with The Iced Coffee Hour, Saylor acknowledged that for someone with vast wealth like a billion dollars, losing a significant sum such as six billion may not significantly change their lifestyle. However, for small investors and employees, this financial setback can be life-altering. The most challenging part for Saylor was realizing the negative impact on these individuals’ lives. He then shifted the conversation to Bitcoin, offering guidance for investors.

Saylor advised that if you are not willing to hold onto Bitcoin for a decade, then you should not hold it for even ten minutes. He emphasized that it’s best to avoid investing in Bitcoin if you may need the money in the next four years. While no one has experienced losses by holding Bitcoin for more than four years, the key is to view it as a long-term investment spanning ten years. Saylor suggested that those lacking this long-term commitment should invest more time in research and contemplation until they are ready to commit to holding Bitcoin for a decade.

Expressing unwavering confidence in Bitcoin, Saylor stated that he believes the odds are in his favor. Reflecting on the past, he recalled that about 18 months ago, Bitcoin had a market cap of around $2.5 billion. While others panicked, he remained calm. When Bitcoin’s value plummeted from $66,000 to $16,000, people questioned his next move. Saylor’s response was to patiently wait for the price to rebound, convinced that the drop was unwarranted and that Bitcoin’s worth would continue to rise.