{"id":515298,"date":"2022-11-24T16:26:54","date_gmt":"2022-11-24T13:26:54","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/first-time-bear-market-advice-from-bitcoin-bull-michael-saylor\/"},"modified":"2022-11-24T16:26:54","modified_gmt":"2022-11-24T13:26:54","slug":"first-time-bear-market-advice-from-bitcoin-bull-michael-saylor","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/first-time-bear-market-advice-from-bitcoin-bull-michael-saylor\/","title":{"rendered":"# First time Bear market? Advice from Bitcoin Bull Michael Saylor"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23a31643f5a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23a31643f5a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/first-time-bear-market-advice-from-bitcoin-bull-michael-saylor\/#%E2%80%9D_First_time_Bear_market_Advice_from_Bitcoin_Bull_Michael_Saylor_%E2%80%9C\" >&#8221; First time Bear market? Advice from Bitcoin Bull Michael Saylor &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_First_time_Bear_market_Advice_from_Bitcoin_Bull_Michael_Saylor_%E2%80%9C\"><\/span>&#8221; First time Bear market? Advice from Bitcoin Bull Michael Saylor &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-5129e2ea>First-time bear market? It\u2019s also the first Bitcoin (BTC) bear market for Michael Saylor, one of the world\u2019s biggest Bitcoin bulls.\u00a0<\/p>\n<p>Executive chairman of one of the world\u2019s largest pro-Bitcoin companies, Saylor took a moment out of his busy schedule at the Los Angeles Pacific Bitcoin conference to speak with Cointelegraph. Crucially, Saylor told Cointelegraph that when it comes to Bitcoin, \u201cyou have to take a long frame time perspective.\u201d <\/p>\n<blockquote><p>\u201cIf you\u2019re buying [Bitcoin] and you\u2019ve got less than a four-year time horizon, you\u2019re just speculating in it. And once you\u2019ve got more than a four-year time horizon, then the obvious thing is you dollar-cost average.\u201d<\/p><\/blockquote>\n<p>Dollar-cost averaging is a way of\u00a0reducing exposure to the volatility of an investment.\u00a0Saylor continued, \u201cYou buy the asset that you want to hold for a decade or longer, which is the long-term store of value.\u201d<\/p>\n<p><strong> <\/strong>At\u00a0130,000 BTC, MicroStrategy owns 0.62% of the total supply of Bitcoin, as the total Bitcoin mined is restricted to 21 million. MicroStrategy\u2019s entry price is roughly $30,639 per BTC, meaning the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> group\u2019s total investment is substantially underwater \u2014 were they to sell for dollars.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/d08ae8a9-9ce3-49f9-82f7-1017e99320cb.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Saylor (right) with Cointelegraph reporter Joe Hall.<\/em><\/figcaption><\/figure>\n<p>However, Saylor is nonplussed about the loss \u2014 on paper \u2014 of billions of dollars, stating, \u201cDon\u2019t get caught up and looking the price day to day, week to week.\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/1d12da89-3c33-47d0-af34-206654733762.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Michael Saylor on stage at Pacific Bitcoin with Swan CEO Cory Klippsten (right). Source: <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">YouTube<\/a><\/em><\/figcaption><\/figure>\n<p>The billionaire compares valuing Bitcoin to valuing a home. He joked that \u201cif you bought a house and then every time you went to a party, you got drunk, and then at 11 pm or midnight, you walked up and said, \u2018How much will you pay for my house? I want to sell you my entire house right now.\u2019 Someone might say, \u2018Well, I\u2019m not really in the mood to buy a house. I\u2019ll give you like half of what you paid for it,\u2019 and then you\u2019ll go home despondent, saying, \u2018I lost all my money.\u2019\u201d<\/p>\n<p><strong><em>Related:\u00a0Bitcoin may need $1B more on-chain losses before new BTC price bottom<\/em><\/strong><\/p>\n<p>Avoid that anxiety, he advised, and if you really do need the money in the next 12 months, it\u2019s not investable capital; instead, Saylor explained, \u201cIt\u2019s working capital.\u201d <\/p>\n<blockquote><p>\u201cA logical model is if you live in Argentina, you\u2019re holding pesos for a month or two, you\u2019re holding dollars for a year or two. You\u2019re holding Bitcoin for a decade or two. And when you think about it in those frequencies and time frames, it all starts to make sense.\u201d<\/p><\/blockquote>\n<p>Finally, as Saylor and Binance CEO Changpeng Zhao suggested,\u00a0take custody of your Bitcoin. In light of another crypto exchange vanishing with customers\u2019 funds, taking custody of Bitcoin is the only way of ensuring property that cannot be confiscated. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/first-time-bear-market-advice-from-bitcoin-bull-michael-saylor\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; First time Bear market? Advice from Bitcoin Bull Michael Saylor &#8220; First-time bear market? It\u2019s also the first Bitcoin (BTC) bear market for Michael Saylor, one of the world\u2019s biggest Bitcoin bulls.\u00a0 Executive chairman of one of the world\u2019s largest pro-Bitcoin companies, Saylor took a moment out of his busy schedule at the Los&#8230;<\/p>\n","protected":false},"author":1,"featured_media":515299,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMzc4YWMzNzctMjliOC00MjM5LThlNjctNWFlYTlhYjU3NmY2LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,76643,122847,117],"class_list":["post-515298","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-hodl","tag-microstrategy","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/515298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=515298"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/515298\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/515299"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=515298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=515298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=515298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}