The man who is down $1.2 billion on his investment has good advice for followers
The CEO of MicroStrategy, a company that owns around 130,000 BTC, has some advice for crypto investors who are in the process of surviving another bear market present on the cryptocurrency market.
In his recent tweet, Saylor told his subscribers to “stay humble” and “stack sats.” Most likely, the CEO of MicroStrategy was trying to tell his followers not to think too much about themselves when they are successful in the market and keep on increasing their gains calmly, without worrying about market structure.
Saylor, for sure, follows his own advice as MicroStrategy keeps on increasing its Bitcoin stack despite current issues in the whole industry. Besides that, Saylor does not seem to worry about buying Bitcoin at the top many times and holding it at a massive $1.2 billion loss.
But here’s the catch
Unfortunately, not every crypto market participant is a massive company with an almost infinite ability to back up its Bitcoin position, as stated by MicroStrategy’s CFO. Most recently, the position held by the company was getting close to the margin call level, which did not happen as the company injected some of its funds to defend its position.
By constantly funding its position, Saylor’s company can comfortably hold Bitcoin even if it plunges below $10,000. According to Saylor’s portfolio tracker, Bitcoin must spike below $30,000 to become profitable for the company once again. On April 5, Saylor announced his company’s most recent Bitcoin purchase worth $4,167.
At press time, Bitcoin is trading at $20,914 with a 1% increase in the last 24 hours and has been struggling to break through $22,000 for the past week.