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Crypto Traders Looking for Big Returns on Bitcoin Need New Strategy As Whales Like Me Move In, Says MicroStrategy’s Michael Saylor

Crypto Traders Looking for Big Returns on Bitcoin Need New Strategy As Whales Like Me Move In, Says MicroStrategy’s Michael Saylor

Michael Saylor, the head of the business intelligence software company MicroStrategy, says active Bitcoin traders should adopt a simple strategy to generate massive returns as big-money players flock into the largest cryptocurrency.
In a new webinar with Dan Held, the growth lead at the crypto exchange Kraken, Saylor says people who are waiting for Bitcoin to crash or buying and selling on a daily basis should change their approach as Saylor expects more large entities like himself to “stampede” into BTC.
He points to the devaluation of the Argentine peso, a potential future drop in the value of the US dollar, and the manipulation of currencies around the world as prime examples of why investors should simply buy BTC, hold on, and trust in the scarcity of the asset and the durability of the network.
“In a world where everybody is dissipating energy, preserving your energy is the winning strategy. They might be dissipating it by holding it in dollars. They might be dissipating it by trading all the time. Trading is dissipating energy. All of this buy it and sell it and move it around and convert it – all of the running around is dissipating energy. 
The winning strategy is stop dissipating energy, because everybody else is dissipating energy so fast. If I have $100 million sitting in cash, I’m dissipating it 15% per year doing nothing. Just flipping it to Bitcoin and doing nothing means that in 10 years the cash goes to zero and I still have $100 million worth of energy. If 99% of society takes the other trade, in 10 years, you’ll own everything, which is what Bitcoiners understand…

You’re preserving energy in a world where everybody else, where 99.9% of the money is dissipating energy. If you’re the 0.1% that is preserving energy when 99.9% of the asset holders are dissipating energy, that’s enough. That’s a pretty wise thing. 
Everybody thinks you need to do something with it. They just don’t understand it.”
Saylor recently revealed he personally owns 17,732 BTC worth about $235 million, which is separate from the $425 million his company has invested in the leading cryptocurrency.
“I paid $9,800 a Bitcoin – a lot more than most hodlers paid. I wasn’t thinking if I sit around, maybe it will go back to $4,000. I was thinking, ‘I’m a rational person reacting to rational circumstances. What if other rational people with more money than me have the same idea I have, in which case I’m going to have to chase this thing to $20,000, $30,000, $40,000, $50,000.’ Hence the phrase, ‘Once you understand it, you go to bed at night with anxiety feeling chronically short.’ I was worried the rest of the world will start acting rationally…

All the people that think they know Bitcoin, that sit around and they whine and they lament: ‘I’m going to wait until it goes back down again. I’m going to wait for it to crash.’ I think they don’t really understand Bitcoin because if they understood Bitcoin, then they would be thinking, ‘The only thing I worry about is how do I figure out how to buy more…’
If you thought that you’re going to get those kind of returns, then you’re really looking out to when it’s worth $100,000 or when it’s worth $1 million a coin, and then you’re saying, ‘What’s the consequences if I didn’t buy one?'”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/gonin/MicroOne
The post Crypto Traders Looking for Big Returns on Bitcoin Need New Strategy As Whales Like Me Move In, Says MicroStrategy’s Michael Saylor appeared first on The Daily Hodl .

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