Michael Saylor went from being a Bitcoin or Crypto skeptic to a Crypto Evangelist and is now officially crowned The King Of Buying The Dip, because he practices what he preaches in terms of buying the dip, he takes advantage of the dip to sack up more Bitcoin into his wallet, unlike so many crypto traders and crypto influencers who talk a lot about buying the dip. But when the dip comes, they panic and sell, as opposed to buying they preach about because they are all talk and no action. Michael Saylor just purchase an additional 4,167 bitcoins worth $190.5 million, that's how it is done.
It's simple, if you believe in something, you stand for it and don't chicken out when it's time to take action, which is why I like and respect MicroStrategy CEO Michael Saylor, who stood for what he believes and is still on Bitcoin purchasing streak, or like I like to put it "Bitcoin shopping spree", the last purchased he and his company made was 7 days ago when they purchased Bitcoin worth $205 million through a collateralized loan from Silvergate bank and today they purchased another one but the source of funds has not been disclosed yet. MicroStrategy remains the company with the highest amount of Bitcoin on its balance sheet in the world, that's a new record made.
Michael Saylor tweeted on his lastest Bitcoin purchase and the total amount of Bitcoin his company is holding:
MacroStrategy has purchased an additional 4,167 bitcoins for ~$190.5 million at an average price of ~$45,714 per #bitcoin. As of 4/4/22 MicroStrategy #hodls ~129,218 bitcoins acquired for ~$3.97 billion at an average price of ~$30,700 per bitcoin. $MSTR
Let's talk about the psychology behind the market during the dip, when the dip comes people panic and sell rather than buy. That's why many are not making it that much in crypto, although I don't blame them though because some people might not have the money to buy the dip or have the resources like Michael Saylor to leverage on. But the truth still is the ability to keep buying more when many people are selling in the dip is what sets people up for good returns. But those that sell during the dip will find it hard to make it in the crypto space. Cryptocurrency rule is simple, buy low, sell high but many do the opposite because their psychology towards crypto is not strong and they get too emotional.
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Wow, he's indeed a crypto King.
Yes he is.
Nice write-up friend 👍🥰.