Saylor Urges Long-Term Approach to Bitcoin: Hold for At Least Four Years
Strategy Inc. Chair Michael Saylor advised investors to take a long-term approach to Bitcoin and refrain from investing unless they plan to hold it for at least four years, ideally ten years. During a Q&A session with Strategy's shareholders, Saylor acknowledged the ongoing bear market has made things 'tougher' but reaffirmed the company's commitment to continuing its Bitcoin purchases.
Saylor cautioned investors to be prepared for 'difficult' years ahead and said that if they are short-term price predictors, or traders, he doesn't have much useful advice for them. He emphasized the importance of looking at a four-year blended measure of Bitcoin's long-term value, which includes the 200-week moving average.
The company's Bitcoin acquisition program has been on hold for seven weeks despite raising $333.7 million through stock sales. The funds were used to repurchase STRC preferred shares and fund dividends. Earlier this month, Saylor predicted that Bitcoin would gain 30% annually for 20 years and potentially outperform the S&P 500 by roughly 1.5 to two times over the long term.
As of writing, BTC was trading near its 200-week moving average of $64,014, according to NewHedge. Strategy shares rose 0.27% in after-hours trading after gaining 4.99% to close at $97.68 during Monday's regular session.