A former bitter opponent of Bitcoin, Michael J. Saylor has followed the path we're all going to follow sooner or later. Sooner or later, everyone will open their eyes to why Bitcoin exists and why people must regain control of their money.
Bitcoin is a unit of wealth independent of government and bank control.
Bitcoin is an opportunity that goes far beyond mere financial investment.
Following a DCA strategy with MicroStrategy since August 2020, Michael J. Saylor has managed to accumulate 174,530 BTC since then, and his goal of owning 1% of the total Bitcoin supply is fast approaching.
In addition to being one of the largest holders of BTC, Michael J. Saylor has also been doing a huge amount of education since August 2020 to help as many people as possible understand why choosing Bitcoin is a no-brainer.
On X, he has just conducted an informal poll to ask his audience a fairly simple question, but one that everyone is ultimately asking:
“How high will BTC need to rise before you would consider selling a small portion of your Bitcoin?”
Michael J. Saylor offered 4 choices:
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$100,000
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$250,000
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$500,000
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$1,000,000 to Never
Unsurprisingly, $100K is still a dream, and almost a third of respondents to his poll on X intends to sell some of their Bitcoin once the $100K mark has been passed.
The $100K mark therefore represents both an important psychological barrier and an area of strong resistance, where substantial profit-taking is likely to take place.
Anyone who views Bitcoin solely through the prism of financial investment is likely to sell en masse at that very moment. This is a certainty, and you need to be prepared for it.
What's even more interesting in the results of this small, informal poll is that the majority of voters (36.3%) don't intend to sell at $100K, but rather to wait patiently for Bitcoin to reach the million-dollar mark.
This suggests a shift in mindset regarding Bitcoin. More and more people are beginning to see Bitcoin in the right light: as a savings technology that enables you to protect the fruits of your labor over the long term, and not just another financial investment!
This shift in mindset about Bitcoin is essential because I need to remind you of a reality that is all too often ignored by beginners in this world: over 90% of traders end up losing money.
It's extremely difficult to beat the market by trying to profit from the volatility of Bitcoin or cryptocurrencies. The reason is simple: by opting to trade, you'll be up against opponents who have better skills in the field than you do. Opponents who probably have better information than you. It's a losing battle.
Bitcoin enables you to protect yourself against this if you choose to redefine your time horizon and take the long view. Of course, this first requires an understanding of the why of Bitcoin.
Being a Bitcoin HODLer no matter what requires patience and, above all, confidence in this unique monetary revolution. This can only be achieved by developing your knowledge of money and economics.
Those who make this intellectual effort never regret it.
From 2013 to 2021, Bitcoin has appreciated by an average of 147% per year. So $100 invested in Bitcoin in 2013 turned into the equivalent of $343,010 in 2021...
However, if you missed the 10 most bullish days, performance drops to 91% per year. If you've missed the 20 most bullish days, performance falls to 61%. If you've missed the 30 most bullish days, performance falls to 39% per annum. 21% per year if you missed the 40 most bullish days and 7% per year if you missed the 50 most bullish days.
These figures clearly show why being a Bitcoin HODLer who opts for a DCA strategy is the best long-term solution. Most of the rise in Bitcoin's price takes place less than 2% of the time!
Those who weren't in a HODLing strategy on those 50 most bullish days would have turned their 2013 $100 into just $184 in 2021, instead of $343,010.
The final word again goes to Michael J. Saylor, who recently declared that “Trading Bitcoin is a sign of a lesser intellect.”
I might not be as categorical as he is, since everyone has the right to do what they feel is best for their lives, but I do agree with him that with Bitcoin, there's no point in trying to make things more complex by looking for strategies when it's obvious that the KISS principle with Bitcoin is the best option.
This KISS principle revolves around this simple pattern that I frequently remind you of:
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Buy / Earn / Save Bitcoin.
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HODL Bitcoin.
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Spend in Bitcoin.
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Enjoy your Life.
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Repeat from Step 1.
The choice is yours.
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