Saylor Shifts Focus from Price Volatility to Long-Term Value for Bitcoin Investors

Michael Saylor, executive chairman of Strategy Inc (NASDAQ:MSTR), is urging investors to focus on Bitcoin's long-term value rather than its day-to-day price swings. During his company's second-quarter earnings call, Saylor emphasized the importance of looking at Bitcoin's 200-week moving average as a measure of its underlying value.

The 200-week moving average, he explained, is akin to the basis in Bitcoin or the book value with Bitcoin. According to Saylor, many of Bitcoin's major price moves tend to be anchored around this metric. Currently, Bitcoin is trading at a very slight premium to the 200-week moving average.

This premium is relatively subdued compared to most historical periods, with Bitcoin having traded at a higher premium for about 91% of its network history, Saylor noted. He encouraged investors to take a longer-term view and use metrics such as the 200-week moving average, market capitalization, ETF flows, hash rate, Bitcoin dominance, and the Fear & Greed Index to evaluate the health of their investment.