You know that investor saying, buy when there's blood on the streets, even if it is your own? Well, that's what Michael Saylor just did.
MicroStrategy has added 480 BTC to its coffers despite the bear market, the company announced on June 29. So, Microstrategy now holds 129,699 Bitcoin in total, probably all of them secured on cold storage.
Michael Saylor is too much of a blockchain and bitcoin fanatic not to do it(the storing) the right way. The average price scored by Microstrategy for one BTC is $34,664. We can't say that Saylor is actually a dip and bottom buyer, but he probably doesn't care about timing the market too much.
The man has vision and a conviction and his acts are proof of that. The latest 480 BTC added to the MSR treasury at an average price of $20,817 make the company a fatty whale, you know.
If you check on the fear and greed index right now it is at 13 out of 100 points and that calls for extreme fear in the market. If we take into account the average buying price for BTC of $34,000 realized by Microstrategy then we could say Michael Saylor has bought his own blood here.
He actually bought into extreme fear and that's how you make money, I guess... Or at least that's what I'm telling myself for a few years now. I'm not that much of a dip buyer and haven't made a lot of money in crypto, but I'm still around.
I have the conviction that I'm in the right boat to sail in the years to come and Hive plays an extremely important role in this regard. You don't have to buy crypto out of the open market to be in crypto though if involved enough in this thing called Hive.
That's an aspect many are overlooking lately, especially the ones that have paused their activity here due to market conditions.
Take a look at the world around you and tell me you feel comfortable being out of crypto. This thought actually scares me, you know. I no longer trust any politician, banks, media outlets, and so on. My conviction in crypto(not necessarily just Bitcoin) is pretty much as strong as Michael's.
I bought my own blood as well, just about a week ago and I hope I made a good decision. Every coin I bought so far is holding my bags underwater, but I'm not worried and I'm not making the same mistakes I did back in 2018-2020. What about you?
Thanks for your attention,
Adrian