Michael Silver’s advice for investors experiencing their first bear market

توصیه‌های مایکل سیلور برای سرمایه‌گذارانی که اولین بازار نزولی را تجربه می‌کنند

If you’re experiencing your first bear market, it’s best to stop checking the Bitcoin price momentarily. It seems that Michael Silver is looking at things from a different angle now that many investors are just looking at their losses and the market continuing to bear down.

Michael Silver, CEO and founder of MicroStrategy, one of the largest pro-Bitcoin companies in the world, spoke to Cointelegraph during the Pacific Bitcoin Conference in Los Angeles. Conversation the payment.

Above all, Silver told Cointelegraph that when it comes to Bitcoin, you have to take a long-term view.

If you’re buying bitcoin with a time horizon of less than four years, you’re just speculating. Obviously, when your time horizon is longer than four years [استراتژی] Dollar cost averaging is important.

Dollar-Cost Averaging is a way to reduce exposure to volatility in investments. Silver continued:

You buy an asset that you want to invest in for a decade or more; This is a long-term store of value.

With 130,000 Bitcoins and since the total number of Bitcoins that can be mined is limited to 21 million, MicroStrategy holds 0.62% of the total Bitcoin supply.

Microstrategy’s paid price is approximately $30,639 per Bitcoin; This means that if the tech company wants to convert its bitcoins into dollars, it will face a significant loss.

Read more: Monthly investment in Bitcoin; What will be the result?

Still, Silver is unfazed by his billion-dollar loss, saying:

caught [این بازی] Don’t follow prices day by day and week by week.

Michael Silver's advice for investors experiencing their first bear market

The billionaire compares the valuation of Bitcoin to the valuation of a house. He jokingly gave an example:

If you were buying a house, every time you went to a party, you would get up at 11:00 or midnight and ask, “How much would you pay for my house? I want to sell you my whole house right now.” One might reply, “I’m not really interested in buying a house, but I’ll give you half of what you paid for it.” Then you go home disappointed and say, “I lost all my money.”

Avoid this anxiety, he advised, and if you really need money in the next 12 months, know that it’s not an investment. Silver explained that this is working capital.

Silver explained:

A logical model is to hold pesos for a month or two and dollars for a year or two if you live in Argentina. You [باید] Hold Bitcoin for a decade or two. When you look at it in those periods and time frames, it all makes sense.

Finally, as Silver and Binance CEO Changpeng Zhao suggested, keep your bitcoins in your non-escrow wallet.

With yet another digital currency exchange disappearing with customers’ funds, keeping your own Bitcoin is the only way to secure assets that can’t be confiscated.

Read more: Long-term investment in digital currencies; how to hoddle more easily?


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