MicroStrategy CEO: Bitcoin traders are always disappointed by volatility

Bitcoin traders do not understand the technology or the macroeconomic framework, and are therefore inevitably disappointed by volatility. This view was expressed by MicroStrategy CEO Michael Saylor on a podcast hosted by analyst Sven Henrich.

The Bitcoin enthusiast urged buying the first cryptocurrency with money investors are prepared to lose. He advised against speculation and did not offer guidance on profiting from short-term trades in digital gold.

In the interview, Saylor said that regulatory hurdles pose the greatest threat to the crypto economy.

The head of MicroStrategy remained optimistic about the long-term prospects of digital gold, citing continued fiat-money issuance.

“I see Bitcoin as the most widespread and strongest global monetary asset,” he explained.

Earlier Michael Saylor called the crackdown by Chinese authorities on miners “a trillion-dollar mistake”.

In June, MicroStrategy purchased 13,005 BTC, bringing the total number of coins controlled to 105,085 BTC ($3.66 billion). Their average purchase price was $26,080.

Follow ForkLog news on Twitter!