Now is a ‘pretty ideal entry point’ for Bitcoin

Saylor You Can Never Have Too Much Bitcoin, But Price Cools Off

Bitcoin price cools, but ‘Never too much Bitcoin,’ says Saylor.

Ah, Bitcoin (BTC), the roller coaster of digital assets. This week, BTC price came within a hair of the $36,000 mark, only to make a sharp U-turn and correct to $34,250. It’s like watching a daredevil on their motorcycle, performing death-defying stunts before realizing they forgot to fill up on gas.

After a mind-blowing 30% run in the past month, it’s only natural for BTC to take a breather. Some traders are cashing in their profits, while others are evaluating if the rally’s catalysts are still valid. It’s the classic scenario of traders catching their breath after an adrenaline-packed ride.

But hold on, despite the short-term price action, there are some analysts who remain bullish on Bitcoin. In fact, they’re so confident in its potential that they’re expecting another “gamma squeeze” if BTC manages to break through the $36,300 level. It’s like waiting for a superhero to burst through a brick wall. Pow!

One of those perma-bulls is none other than MicroStrategy CEO, Michael Saylor. He’s like the fearless captain, sailing through treacherous waters while the rest of us are clinging to the lifeboats. Recently, MicroStrategy announced the purchase of 155 BTC for $5.3 million in October. Talk about putting your money where your mouth is!

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When Saylor was asked about the upcoming Bitcoin halving during an interview, he dropped some serious knowledge. Apparently, most of the natural sellers of Bitcoin in the market right now are Bitcoin miners. They have to sell to cover their huge electricity bills, capital costs, and retire their debt. I mean, can you imagine their monthly selling frenzy? It’s like a Black Friday sale, but on steroids. A billion dollars worth of selling every single month, folks!

But here’s the juicy part. The protocol forces that massive selling spree to be cut in half as of next April. Can I get a collective “whoa!”? Yes, supply is going to contract, my friends. Saylor predicts that $12 billion of natural selling per year will be converted to a measly $6 billion. Ah, the wonders of scarcity. And at the same time, we have the increasing demand for Bitcoin from things like spot Bitcoin ETFs. It’s like witnessing a tango between the forces of supply and demand, with Bitcoin as the flashy dancer.

Saylor then goes on to say that all these factors are making him and others in the know fairly bullish over the next 12 months. Demand is going to skyrocket while supply takes a nosedive. It’s a perfect storm, a collision of market dynamics like never before seen on Wall Street. We might need to deploy some crash cushions for the inevitable explosion of interest.

Now, let’s focus on the present. Yes, Bitcoin has seen some staggering gains. It has climbed a whopping 114%, with 30% of that growth happening in the last month alone. But hey, the price is still nearly 50% down from its all-time high. It’s like we’re in a never-ending game of snakes and ladders, folks. Up, up, up, and then oops, we’re back down.

Now, I know what you’re thinking. The FTX implosion and other crypto scandals still hang in the air, lingering like a bad smell. But fear not, dear reader. Saylor believes that to move forward, the industry needs to migrate to adult supervision. Those early crypto cowboys and unreliable crypto custodians will no longer be allowed to run wild. It’s time for the big boys and girls to step in and restore order to the Wild West of cryptocurrency.

So, what does this mean for you as an investor? Saylor suggests that if you have a 12-month to 48-month time horizon, oh boy, this is a pretty ideal entry point into the asset. You heard it here first, folks. Stick with Bitcoin, wait for the banks on Wall Street and responsible custodians to take over and manage this wild beast. And mark my words, we might just 10x from here. It’s like finding a hidden treasure chest at the end of an arduous journey.

Now, let’s strap ourselves in, buckle up, and enjoy the ride. Grab your popcorn, friends. Bitcoin is showing no signs of slowing down, and we’re here for the thrilling journey. Do you have your ticket to the moon?

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