Brandt: Bitcoin Could Test Saylor 'Severely'
Prominent commodity trader Peter Brandt has noted that Bitcoin's price could potentially drop as low as $50,000, which might test Strategy co-founder Michael Saylor. Despite this, Saylor remains optimistic about Bitcoin, recently making a significant Bitcoin purchase that raised his company's average purchasing price to $74,079. Shares of Saylor's company, however, have dropped 35% year-to-date. Venture capitalist Jason Calacanis predicted Strategy might face trouble but stated he would not invest in the stock. During a Yahoo! Finance interview, Saylor expressed confidence in the cryptocurrency market's fundamentals, emphasizing its improved conditions and attractive risk-reward opportunities, while acknowledging market volatility as a key factor for maximum performance.
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Peter Brandt's Take on Bitcoin and Michael Saylor
Prominent commodity trader Peter Brandt has shared his opinion that Bitcoin (BTC) might end up testing Strategy co-founder Michael Saylor "severely." Brandt has acknowledged the possibility that the price of the leading cryptocurrency could potentially plunge to as low as $50,000. However, he emphasized that this is not a prediction.
Michael Saylor's Recent Bitcoin Purchase
Earlier this week, Michael Saylor announced yet another Bitcoin purchase, marking the company's largest acquisition since September. The purchase has pushed MicroStrategy's average acquisition price to $74,079 per Bitcoin. Despite this move, the company's shares have continued on an ugly streak, falling another 6% today to a level not seen since November 2024. Year-to-date, the stock is down 35%, now trading at $212.
Jason Calacanis on MicroStrategy's Fate
Venture capitalist Jason Calacanis recently predicted that Strategy might go underwater. Despite his bleak prediction, the early Uber investor made it clear that he would never touch the stock, signaling his lack of confidence in the company's performance.
Michael Saylor on Volatility and Bitcoin Investment
During a recent interview with Yahoo! Finance, Michael Saylor expressed his unshaken confidence in Bitcoin despite the price volatility. He remarked, "If you’re an investor, it really comes down to what your time horizon is and how much volatility you can stomach. So, if you want max performance, you’re going to take max volatility."
Industry Fundamentals and Investment Opportunities
Saylor also noted that the fundamentals of the cryptocurrency industry are significantly better today compared to twelve months ago. He described the current time as an "extraordinary risk-reward opportunity" for potential investors. Emphasizing his optimism, Saylor stated, "Now is a much better time to invest."