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Michael Saylor Answers BloombergHT’s Bitcoin Questions! He said to stay away from these Altcoins!

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480 recently for $ 10 million bitcoin declaring to have received Michael Saylor Bloomberg answered HT’s questions.

Ali Çınar, representative of Bloomberg HT and Habertürk USASaylor’s host said their commitment to Bitcoin will continue and their plans are long-term.

Will Bitcoin Survive?

Ali Cinar “Cryptocurrency units encountered in severe global crises Covid 19, Russian-Ukrainian occupation, energy crisis 8.6% US inflation etc. Do you think cryptocurrencies can survive this process? Answering the question, Saylor said:

bitcoin dominant crypto asset on the market. There are around 20,000 other cryptocurrencies. Bitcoin will survive, but most other cryptocurrencies won’t. There will be a 99% failure rate. Bitcoin is well designed and decentralized money. “

Can trust be restored on Bitcoin?

Another question from Ali Çınar was the following:

At a time when the macroeconomic outlook has deteriorated, we have also seen the intra-market crisis, which started with Terra Luna on the cryptocurrency side, and this collapse has deepened with Celsius and 3AC. The cryptocurrency market, which had a market value of $ 3 trillion in November 2021, has dropped to around $ 900 billion.

I want to ask, can cryptocurrency markets rebuild this eroded confidence or what steps should be taken to restore confidence?

Saylor gave the following answer to this question:

“The challenge here is that most of the market doesn’t understand the difference between Bitcoin and cryptocurrency. Bitcoin is seen as a decentralized digital asset, but most other things are either trying to become stablecoins or are considered digital stocks. So there is instability, which of course is due to excessive leverage.

It will be a better environment if cryptocurrency exchanges are regulated. There is a need for regulation and there is excessive leverage. With the regulations, these will also be reduced a little more. The training process for investors can also be provided by regulators ”.

Is the correlation of the Nasdaq against the spirit of Bitcoin?

Saylor “Isn’t it against the nature of cryptocurrencies that Bitcoin is related to exchanges like Nasdaq?” He answered the question as follows.

“Bitcoin has outperformed stocks in 2, 4 and 8 years. It would be wrong to evaluate a price performance in 2 or fewer years to avoid inflation here. If you are buying a product to protect yourself from inflation, you must keep it for at least 2 or 4 years. “

“Stay away from altcoins”

Answering Ali Çınar’s question about altcoins, Saylor sent a message to stay away from altcoins.

“You said regulators should take action on altcoin projects. Are you talking about all altcoins or what steps can regulators take?

Saylor: Here is the difference between a commodity and a title. There are no issuers in the commodity. No company is in control of this. We can say that this is the case with gold, silver and Bitcoin. Bitcoin is unique at this point. What does it mean that there are 20,000 other cryptocurrencies and they are all stocks. These have to be regulated and these cryptocurrency producers have to explain everything. The SEC has to deal with this. In the absence of regulation, cryptocurrency exchanges open these altcoins for processing. It is very complicated because there are thousands of coins and it is really difficult to do. In summary, I think if you are going to buy other altcoins, you are taking a big risk. In my opinion, just buy Bitcoin and wait for it. “

We can list the highlights of Saylor and Ali Çınar’s interview as follows:

“There is no investment strategy that you can protect against inflation in the short term. In the long run, Bitcoin will outperform other products.

There is a certain waiting situation in the market. The market awaits further clarification and clarification from the SEC. However, the SEC isn’t doing enough in this regard.

Our strategy is to buy and hold Bitcoin. I am talking about a 10 year period.

We are not traders, we don’t want to buy low and sell high. We don’t look at Bitcoin that way.

The Turkish lira has recently lost a lot of value. On the macroeconomic side, the world wants to switch to commodity-indexed currencies. This is what Bitcoin is. It may be more volatile in the short term. But if you have a 10-year plan, it works 5-10 times better than others.

Bitcoin will survive most other cryptocurrencies will not survive, 99% will fail ”.

* No investment advice.

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