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MicroStrategy isn’t in the business of selling Bitcoin even if prices crash, says CEO Michael Saylor

  • MicroStrategy CEO says the company’s strategy is to buy and hold Bitcoin, not sell.

  • The company has over $5 billion worth of BTC.

The CEO of MicroStrategy Michael Saylor says that the business intelligence firm, and one of the biggest holders of Bitcoin, has no plans to sell its holdings.

Not even when the cryptocurrency space continues to face headwinds in 2022 following a stellar 2021 that saw most crypto assets hit new all-time highs.

Bitcoin price raced to a peak of $69,000 in November last year, with the flagship cryptocurrency outpacing the S&P 500 for the fourth year in a row. However, the price has fallen significantly over the past two months. In the past 30 days, BTC’s price has declined 13%. 

After closing 2021 with over 70% in gains, the correction has seen gains over the past year cut to just 14%.

Asked if the crypto winter is something that worries him personally, Saylor noted:

“If you are going to invest in Bitcoin, a short time horizon is four years, a mid time horizon is ten years, [and]the right time horizon is forever.”

He told Bloomberg that his company isn’t in the business of selling, and when asked what happens if prices tank further, the MicroStrategy chief responded:

„We’re not sellers. We’re only acquiring and holding Bitcoin. That’s our strategy,“

During the interview, Saylor noted that price declines across crypto don’t worry him at all. He also expressed confidence in Bitcoin as an inflation hedge.

According to him, the cryptocurrency offers “the best defense against inflation” and nothing currently beats holding the Bitcoin standard.

“I don’t really think we could do anything better to position our company in an inflationary environment than to convert our balance sheet into bitcoin,“ he explained.

Saylor added that the company’s decision to buy Bitcoin stemmed from observations made across the industry. He said doing “nothing”- referring to a situation where the MicroStrategy had not bought any BTC- would be consequential.

He said he has witnessed 99% of competitors close shop, and that he felt the company would be “headed” in that direction if they maintained the status quo. Rather tellingly, he noted that the company faced two options: to “either adopt a Bitcoin strategy, or sell the company.”

He said they chose to buy the digital gold.

MicroStrategy‘s holdings number 124,391 BTC after a series of purchases following its pioneering move in 2020. At current prices, the company’s haul is worth over $5 billion.

The post MicroStrategy isn’t in the business of selling Bitcoin even if prices crash, says CEO Michael Saylor appeared first on Coin Journal.

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Altcoins that could make you millions before the end of 2022

The crypto market has been known to literally make people rich overnight. In fact, 2021 was the year of crypto, with most altcoins setting record highs in terms of growth. But the start of 2022 has seen most of these tokens lose some momentum. But can you become rich from altcoins? Here are some highlights:

  • Altcoins have shown that they have the biggest growth potential compared to traditional tokens like Bitcoin and others.

  • In 2021, some altcoins saw gains of over 10,000%, with surging demand all year through

  • Altcoins also offer some of the most interesting blockchain projects in the world right now.

Well, if you want to get rich from altcoins, the following are two undervalued tokens that you can consider:

Anchor Protocol (ANC)

The Anchor Protocol (ANC) is an innovative DeFi project that is built on the Terra network. It is designed to offer frictionless access to a set of DeFi products with better speeds and efficiency. What makes this an exciting project is the fact that it’s under the radar. 

Data Source: Tradingview.com 

It’s also worth mentioning that the Terra network where it’s built is a hot project too. There is also a lot in TVL for ANC as well, making it a decent bet for future growth. At the time of writing, the coin was trading at $2.23 with a market capitalisation of around $465 million. If you are looking for a decent DeFi project for the future, check this out.

Provenance Blockchain

The Provenance Blockchain is actually an up-and-coming project, so there aren’t even tokens available yet. But it has several key promising features. The platform is an open-source ecosystem for creating and deploying blockchain DApps. It is getting a lot of attention from big-name players in finance and could be a huge bet for growth in the future.

The post Altcoins that could make you millions before the end of 2022 appeared first on Coin Journal.

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Cosmos (ATOM) remains resilient during the crypto slump – Should you buy it?

Cosmos (ATOM) has shown some incredible resilience even as the broader crypto market reported weakness in January. The coin in fact has traded very close to its all-time highs albeit is it is a bit lower. With this price action, should you buy Cosmos (ATOM)? Here are some highlights first:

  • At the time of writing, the token was trading at $39.41, fairly close to its all-time high price of around $46.

  • Also, Cosmos (ATOM) is about 400% up from its lowest price, recorded in June last year.

  • The coin has also surged by nearly 7% in 24-hour intraday trading.

Data Source: Tradingview.com 

Cosmos (ATOM) – price prediction and analysis

For the most part of January, a lot of Altcoins in the market has seen massive routs. But it seems Cosmos (ATOM) has managed to hold steady. Despite taking a few hits, the token has rebounded. It is still about 3% down in 7 days but remains 7% higher in 24-hour intraday trading. 

At the time of writing this post, Cosmos (ATOM) was trading at around $39. It is quite close to its all-time high of $46. Although we don’t expect it to retest those heights in the coming days, Cosmos (ATOM) is likely to consolidate around the $40 mark. Also, the token has surged past its 25- and 50-day moving averages, suggesting that a bullish alignment is well and truly in the mix.

Should you buy Cosmos (ATOM)

Cosmos (ATOM) is one of the most popular altcoins. The chain also looks to offer one of the fastest and low-cost blockchains in the world for innovative developers. It has been a hit among investors, ranking among the top 10 by market cap.

Based on those fundamentals, it is a decent token to get your hands on. The recent price action also shows it can be resilient even if broader headwinds hold back crypto assets.

The post Cosmos (ATOM) remains resilient during the crypto slump – Should you buy it? appeared first on Coin Journal.