Saylor on his expectations after buying Bitcoin:
“I didn’t expect this to work in 12 weeks. I thought maybe in 1-3 years people would stop thinking I’m an idiot… and in 10 years I’d be glad I did it.”
He also talked about the only way he lost money on Apple: trying to trade it with leverage.
He bought LEAP call options, the stock stayed down too long, the options expired… then Apple exploded higher right after.
His lesson:
If you truly have conviction, buy the underlying asset, avoid leverage, and hold it long enough for the thesis to play out.
Michael Saylor on trading Bitcoin:
“Trading Bitcoin is, in my opinion, a sign of lesser intellect.”
“It’s like picking up pennies on a railroad track. You might get a few quarters… then get hit by a train.”