Michael Saylor Shares Insights on 6 Billion Loss and Staying Optimistic During Bitcoins 16K Drop
The year 2000 saw the CEO of software company MicroStrategy facing a staggering loss of $6 billion. Looking back on this significant event, Saylor described the experience as incredibly stressful and unpleasant. He emphasized the far-reaching impact on shareholders, employees, and their families, highlighting how a public company’s stock crash affects more than just the executives involved.
During a conversation with The Iced Coffee Hour, Saylor highlighted the difference in the effect of losing such a substantial amount for someone with immense wealth compared to small investors and employees. While a billionaire may not see a drastic change in lifestyle, the financial loss could be life-changing for others. Saylor found the most challenging part of the ordeal to be the negative impact on the lives of these individuals. He then transitioned to discussing Bitcoin and shared his advice for investors on how to approach it.
Saylor recommended that only those willing to hold Bitcoin for a minimum of ten years should consider investing in it. He stressed the importance of a long-term mindset, cautioning against putting money into Bitcoin if it may be needed in the next four years. While no one has experienced losses from holding Bitcoin for over four years, Saylor believed that treating it as a decade-long investment was the most prudent approach. He suggested that those lacking this conviction should dedicate more time to research and contemplation until they are ready to commit to holding Bitcoin long-term.
Expressing his confidence in Bitcoin, Saylor stated that he believes the odds are in his favor. Reflecting on the past, he recalled a time when Bitcoin had a market cap of approximately $2.5 billion, and despite others panicking, he remained calm. When Bitcoin’s value dropped from $66,000 to $16,000, people questioned his next move. Saylor’s response was to wait for the price to rebound, convinced that the drop was an overreaction and that Bitcoin’s value would ultimately rise again.