Michael Saylor Says Don't Invest in Bitcoin Unless You’ll Hold It for Over 4 Years— Strategy Chair Offers No 'Useful Wisdom' for Short-Term Traders

Strategy Inc. ) Chair Michael Saylor advised investors on Monday to take a long-term approach to Bitcoin and refrain from investing unless they plan to hold it for at least four years.‘Ideally Hold BTC for 10 Years’During a Q&A session with Strategy’s shareholders, Saylor said the ongoing bear market has made things a bit “tougher,” but reaffirmed the company’s commitment to continuing its Bitcoin purchases.“If you’re a short-term price predictor, you’re a trader, I don’t really have much useful wisdom for you,” Saylor said. “My advice is: don’t invest in Bitcoin unless you’re going to hold it for more than four years. Ideally, hold it for 10 years.”Saylor cautioned investors to be prepared for “difficult” years ahead.“We might have to actually ride through some number of months or a year or two to get to the point where things start to work to the benefit of the equity,” the Bitcoin bull stated. Read Also: Why Saylor is Fixated on the 4-Year Horizon?Saylor has often recommended that investors look at a, which includes the 200-week moving average. It typically acts as the multi-year price floor or support level during major bear markets.As of this writing, the 200-week moving average stood at $64,014, according to NewHedge, with the price currently trading near that level.Strategy Yet to Resume BTC PurchasesThis advice comes at a time when Strategy’s Bitcoin acquisition program has been on hold for seven weeks, despite the company raising $333.7 million through stock sales. The funds were used to repurchase $132.2 million of STRC preferred shares, fund $52.4 million in STRC dividends, and add roughly $150 million to its dollar reserve.Earlier this month, Saylor predicted that Bitcoin would gain 30% annually for 20 years and potentially outperform the S&P 500 by roughly 1.5 to two times over the long term.Price Action: At the time of writing, BTC was exchanging hands at $64,002.10, up 1.19% in the last 24 hours, according to data from Benzinga Pro.Strategy shares rose 0.27% in after-hours trading after gaining 4.99% to close at $97.68 during Monday’s regular session.Benzinga’s Edge Stock Rankings indicate that Strategy stock has underperformed with a weaker price trend across short, medium and long-term timeframes.https://www.benzinga.com/quote/MSTR Read Also: Bitcoin Could Become the 'S&P 500 Of The Future' Thanks to AI Development, Macro Veteran Jordi Visser Says Photo: Memory Stockphoto / Shutterstock