🚀💰 Michael Saylor Reveals How He Lost $6 Billion and Stayed Positive When Bitcoin Fell to 16K! 💰🚀
MicroStrategy CEO Michael Saylor lost a staggering $6 billion in 2000. In an interview with The Iced Coffee Hour, Saylor recounted how the stressful and unpleasant experience deeply affected shareholders, employees, and their families, highlighting the enormous impact of a public company's stock falling.
However, Saylor explained that for someone with a large fortune, like a billion dollars, losing six billion doesn't drastically change their lifestyle. On the other hand, that financial loss can transform the lives of small investors and employees. The hardest part for him was knowing that these individuals were negatively impacted.
Saylor then talked about Bitcoin and gave investors some advice on how to navigate the world. He advised against holding Bitcoin if you’re not prepared to hold it for ten years, saying it’s best not to invest if you expect to need the money within the next four years. He said no one has ever lost money holding Bitcoin for more than four years, but it’s ideal to think of it as a ten-year investment. For those who don’t have that long-term conviction, Saylor recommended spending more time educating themselves and thinking things through before committing.
Saylor expressed confidence in Bitcoin, saying the odds were heavily in its favor. Looking back over the past 18 months, he recalled that while Bitcoin had a market cap of about $2.5 billion, others were panicking, but he remained calm. When Bitcoin dropped from $66,000 to $16,000, people asked him what he was going to do. His response was to wait for the price to recover, believing that the drop was oversold and that Bitcoin would continue to rise in value.
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