Even in the toughest of circumstances, long-term BTC holders are strongly holding onto their digital assets. In a recent interview with Bloomberg, Michael Saylor, the CEO of MicroStrategy, said that Bitcoin is the most exciting innovation in the modern financial universe.
According to Saylor, a short-term horizon for BTC holding is at least 4 years. He added that the right time horizon to hold Bitcoin is ‘forever’. MicroStrategy is one of the world’s largest institutional holders of BTC. The public-listed business intelligence firm recently announced the purchase of 1,914 Bitcoin in a cash deal worth approximately $94 million. The company now owns more than 124,000 coins.
“If you are going to invest in Bitcoin, a short time horizon is four years, a mid-term time horizon is ten years, & the right time horizon is forever. If you look at the course of 4 years, no one has ever lost money holding BTC for four years. In our experience, we started buying at $10,000, and now it's up by a factor of 4,” Saylor told Bloomberg during an interview.
In November 2021, Saylor called Bitcoin ‘digital property’ and predicted that the crypto asset will be adopted globally as a store of value.
BTC’s Technical Outlook
The latest crash in BTC and other digital currencies gave investors jitters. In terms of technical outlook, Bitcoin is going through one of its worst phases, at least in the short term. However, a financial markets analyst, Sven Henrich believes that the long-term outlook of Bitcoin looks strong due to its nature as an alternative asset.
“The revolution is a conscious choice to find an alternative to an imposed monetary system, the evolution is to come to the conclusion that Bitcoin is such an alternative. So, to fans of Bitcoin, I say this: One of you. To those that are not: Don’t hate, appreciate. That’s what makes a market,” Henrich said.
