MicroStrategy CEO Michael Saylor has been a well-known supporter of Bitcoin. The graph displaying MicroStrategy’s performance since Aug. 10, 2020, demonstrates the noteworthy returns his company has achieved by implementing a Bitcoin strategy. MicroStrategy is up 1,206%, which is much higher than major indices and assets like Nvidia (NASDAQ:NVDA) and Tesla (NASDAQ:TSLA) as well as Bitcoin itself, which increased by 442%.
Ki Young Ju supports this philosophy by emphasizing Bitcoin’s long-term potential. The current Bitcoin data he observes is similar to the sideways movement that occurs in the middle of 2020, when older whales transfer their holdings to younger whales on-chain.
An essential component of Bitcoin’s decentralized structure is the wealth transfer that occurs within its ecosystem, guaranteeing that the asset is distributed among a larger group of holders rather than being concentrated in the hands of a select few. Crucially Ki Young Ju highlights that there has not been a major price increase following the halving, and that ordinary investors have not yet overheated the market.
This observation implies that there is still room for the market to rise, and a bull run may be approaching. According to Ki Young Ju, Bitcoin bull runs are frequently brief but intense and abrupt, highlighting the need for investors to exercise patience. The core of the Bitcoin ethos is this idea of perseverance and long-term thinking.
Adherents of this strategy develop and mature, and as they do, they pass on their knowledge and convictions, strengthening the community through a cycle of advocacy and education. The belief in Bitcoin’s value proposition being passed down through generations reinforces its status as a hedge against conventional financial systems and a store of value.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
