Everyone knows that Michael Saylor went very deep into Bitcoin (BTC). Recently, Microstrategy got more Bitcoin. CZ Binance in response stated, some people might be laughing, but in the end Michael Saylor is the one laughing.

On June 29, 2022, Michael Saylor expressed:  “MicroStrategy has purchased an additional 480 bitcoins for ~$10.0 million at an average price of ~$20,817 per Bitcoin.  As of 6/28/22, Microstrategy holds ~129,699 bitcoins acquired for ~$3.98 billion at an average price of ~$30,664 per bitcoin.”

Community Reaction:

Peter Schiff:  Increasing your stake by less than .004% seems more like an attempt to influence the market by demonstrating your conviction to other investors. But if you’re so sure Bitcoin is cheap, why not buy $100 million? You must think there’s still a lot of downside left in this move.

So MSTR is down $1.4 billion on Bitcoin, yet you continue to average down, throwing not so good money after incredibly bad. I’s sure that but for your buying Bitcoin’s price would be lower. But now that you’re done the decline can resume until you waste more money buying again.

How the market could reverse over next few months? June CPI prints lower, same with July and August. Will say already 6+ months into recession by end of summer.  Gas prices drop with end of summer driving season.  Negotiated peace Rus/Ukr.  Feds signal no more pain.

Michael buying right by the bottom.

As some people are worried about MicroStrategy being liquidated or not, they keep accumulating more Bitcoins. Michael Saylor has already made it clear that they’ll keep buying more Bitcoin whenever they have excess cash. MicroStrategy believes totally in the Bitcoin potential.

What is the game plan? Why did Microstrategy buy Bitcoin (BTC) again?

If you are going to arrive early to a revolutionary technology and the first digital commodity that is monetized in the history of the world you are going to be in for a bumpy ride. So, Bitcoin has been in a continually bumpy ride in the past many years. I think since even when we got in the market it has gone through nearly three cycles. And, the only rational way to approach this is dollar cost averaging. So, Microstrategy is dollar cost averaging – as a strategy we acquire Bitcoin, we hold Bitcoin. It is like Manhattan.  And, we just happened to believe that a 100 years from now you just want to hold as many Bitcoin as you can.

If you have acquired Bitcoin in 1907, 1913, 1917, 1921, 1928, 1932, 1947, 1953, 1957 and you asked someone what the right time was to buy, and you regret having bought the top. I can’t even remember which of those years are going to be the most efficient times to buy. Generally, the view is once you find the good thing, you just want to consistently acquire more as cash flow allow you.