Michael Saylor, Who Owns 130,000 BTC, Gives Advice to Crypto Investors – U.Today
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The CEO of MicroStrategy, a company that owns around 130,000 BTC, has some advice for crypto investors who are in the process of surviving another bear market present on the cryptocurrency market.
In his recent tweet, Saylor told his subscribers to “stay humble” and “stack sats.” Most likely, the CEO of MicroStrategy was trying to tell his followers not to think too much about themselves when they are successful in the market and keep on increasing their gains calmly, without worrying about market structure.
Saylor, for sure, follows his own advice as MicroStrategy keeps on increasing its Bitcoin stack despite current issues in the whole industry. Besides that, Saylor does not seem to worry about buying Bitcoin at the top many times and holding it at a massive $1.2 billion loss.
Unfortunately, not every crypto market participant is a massive company with an almost infinite ability to back up its Bitcoin position, as stated by MicroStrategy’s CFO. Most recently, the position held by the company was getting close to the margin call level, which did not happen as the company injected some of its funds to defend its position.
By constantly funding its position, Saylor’s company can comfortably hold Bitcoin even if it plunges below $10,000. According to Saylor’s portfolio tracker, Bitcoin must spike below $30,000 to become profitable for the company once again. On April 5, Saylor announced his company’s most recent Bitcoin purchase worth $4,167.
At press time, Bitcoin is trading at $20,914 with a 1% increase in the last 24 hours and has been struggling to break through $22,000 for the past week.
Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.
Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.
Disclaimer: Any financial and market information given on U.Today is written for informational purpose only. Conduct your own research by contacting financial experts before making any investment decisions.