Despite recent critiques, MicroStrategy CEO Michael Saylor stated that now is a good time to buy Bitcoin in an interview with CNBC on Wednesday.
In a recent interview, the billionaire mentioned that, according to the 4-year simple moving average, the average price of Bitcoin is currently at $21,685. Saylor claims that historically, there have been excellent purchasing opportunities at this same price range. It is important to note that during the past few days, Bitcoin has been circling that price.
- “Absolutely. Bitcoin’s backed by the most powerful secure computer network in the world. If I gave you $100 billion, you can’t reproduce it. And it’s beyond a nation-state attack or corporate attack. So once you understand that, and the fact that it’s a singularity, there’s nothing like it in the world, then yeah, this is an ideal entry point to get into this thing,” said the MicroStrategy chief when asked if the current price action presented a great buying opportunity.
As a result of the main digital asset’s increasingly unfavorable price swings, Saylor has come under heavy criticism. Numerous critics have gathered to denounce the millionaire who recently pushed people to take extreme measures, like mortgaging their homes, to buy the erratic asset.
The billionaire doesn’t seem to be concerned about the latest criticism, though. Instead, Saylor reaffirmed his belief in the upside potential of Bitcoin with a profile image that featured the distinctive laser eyes worn by numerous Bitcoin maxis, since he claims his critics have only been able to make him popular on Twitter.
MicroStrategy equities have been among the worst affected by the decline in the price of bitcoin. On Monday, the stock price plunged by 25%, bringing its year-to-date loss to 70%.
