Michael Saylor, the founder of MicroStrategy – now simply “Strategy” – has been a prominent Bitcoin advocate for years. In a recent interview, he shares his vision for how anyone can make their investment grow dramatically. His advice? Put that expensive car on hold for a while and invest in Bitcoin.
Speaking to crypto journalist Natalie Brunell, Saylor suggests that ordinary investors stand the best chance of making huge profits by simply buying Bitcoin instead of luxury items. So no new Rolex, no speedboat, no Ferrari. Unless you happen to be filthy rich, he adds with a laugh. His message is clear: live frugally, keep working, and use your savings wisely.
Saylor also believes it can be advantageous to buy Bitcoin with a long-term mortgage or other cheap loan. This may sound adventurous, but he sees it as a form of "cheap, permanent financing." He rightly points out that this is often subsidized by the government and is tied to a reasonably stable asset, such as your home. If you use that money for Bitcoin, you are playing it smart, he says.
Saylor predicts that Bitcoin will increase in value by about 30 percent each year. If that trend continues, one Bitcoin could cost $2045 million by 13. Yes, he repeats this regularly. In fact, it becomes clear that every Bitcoin you **don’t** buy will cost you that same amount in the long run. For him, it’s not just about making a profit; it’s mainly about avoiding losses.
Saylor’s company, Strategy, is no slouch either. They currently own over 568.000 Bitcoins, worth around $59 billion, making them the largest company in the world to hold that much Bitcoin.
Whether Bitcoin will indeed continue to rise by 30 percent every year is a question that no one can answer with certainty. Nevertheless, it illustrates the immense belief that Saylor has in the future of crypto. His approach? Buy Bitcoin, hold it, and don't spend your money on unnecessary luxuries. In short, a simple and effective plan that can appeal to many investors.
What is the best way to invest in Bitcoin?
Investing in Bitcoin is best done by adopting a strategy where you reserve a portion of your savings for Bitcoin purchases. Avoid unnecessary luxury expenses and invest in digital currencies instead.
What happens if Bitcoin decreases in value?
It is important to realize that investing in Bitcoin, like any investment, carries risks. But the focus should be on the long term and not on short-term fluctuations.
Is it wise to use borrowed money to buy Bitcoin?
Using borrowed money can be beneficial when it comes to low interest rates and a stable repayment option. However, this should be done with care as there are also risks involved.