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This is the entry level for Bitcoin!

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Despite the loss of over $ 1 billion worth of Bitcoin in the current bear market, Michael Saylor’s faith is unwavering. While Bitcoin was in free fall on Tuesday, he said his company was well prepared for such a situation. His company Microstrategy announced that it had prepared volatility provisions before adopting a Bitcoin strategy.

Bitcoin, the best performing asset

Speaking to CNBC on Wednesday, Saylor said his company is testing its Bitcoin strategy against all other alternatives. Michael Saylor said the company’s Bitcoin strategy was realized when Microstrategy retraced Bitcoin’s decline in August 2020.

Last Minute: MicroStrategy bought 262 more Bitcoins!

In fact, he pointed out why he thinks Bitcoin will perform better in the long run. Saylor thinks that in any time frame, be it two, five or ten years, BTC will be the best performing asset.

The Microstrategy CEO also said the transition point for keeping Bitcoin in profit is four years. He claimed that BTC’s four-year moving average averaged $ 21,685:

After four years of investing in Bitcoin, no one has lost any money. BTC’s four-year SMA is $ 21,685.

Michael Saylor’s strategy: great entry point

Meanwhile, Bitcoin is currently trading in the same price range as the SMA that Saylor talks about. BTC is trading at $ 20,569.12, down 8.53% in the past 24 hours, according to CoinMarketCap. When asked if there is a big buying opportunity now, Saylor replied “absolutely”. Here’s how he explained his confidence:

Bitcoin is supported by the most powerful computer network in the world. It goes beyond an attack on the nation-state or an institutional attack. It is like no other in the world. This is the ideal entry point to enter Bitcoin.

Famous Whale: This Hand is Behind the Bitcoin Massacre!

Saylor also commented on concerns over Bitcoin’s steep drop in the past few days. Speaking of his company’s possible margin call, he said:

On a multi-billion dollar balance sheet, we only have one $ 200 million loan to secure, and we are now 10 times more secured on that.

Microstrategy’s total capital in Bitcoin is 129,918 BTC, purchased at an average of $ 30,700. The company is the largest institutional holder of BTC after Tesla and the South American country El Salvador.

Whales attack Bitcoin

cryptocurrency.com According to a tweet from Santiment we cited, Bitcoin processed a total of 12,969 whale transactions in the past 24 hours. This is the largest amount observed on the net since May 2021. These numbers show strong interest among whales at current prices.

Bitcoin stock market revenue jumped to a three-and-a-half-year high, signaling further declines. Additionally, analysts said more pain will come for investors. In this regard, the analyst of the CryptoQuant on-chain analytics platform states:

Over the next 670 days, BTC will capitulate and hit the bottom of the cycle ($ 14-21,000) over the next six months, then cut around $ 28-40,000 for most of 2023 and return to $ 40,000 by the next halving.

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