• MicroStrategy’s Michael Saylor has advised people to buy before losing 93% of their wealth.
• Saylor posted this tweet (NYSE:) in response to the ongoing financial crisis in Lebanon.
• Lebanon’s plan to curb the financial meltdown may cause it to lose 93% of its national currency’s value.

MicroStrategy CEO Michael Saylor posted that everyone should have Bitcoin in light of Lebanon’s ongoing financial crisis.

Don’t wait until you lose 93% of your wealth to buy #bitcoin.https://t.co/qQiODbWDrl

— Michael Saylor (@saylor) February 2, 2022

Saylor offered the advice in context to show the weaknesses of the current financial system. Since many years Lebanon has experienced a financial collapse. The government plans to address the problem. This could lead to a 93% decrease in the value of the Lebanese pounds.

Saylor, for his part, has been an avid Bitcoin supporter since the beginning. MicroStrategy, his company purchased 660 Bitcoin tokens during the cryptocurrency market crash. The company currently holds 125051 bitcoins. This is equivalent to $3.8 billion. The company is acclaimed to be the world’s largest publicly-traded entity that owns bitcoins.

MicroStrategy bought an additional 660 Bitcoins in exchange for cash. The average bitcoin price is $37.865 On 1/31/22, we have #hodl approximately 125,051 bitcoins that were purchased for $3.78 billion, an average bitcoin price of $30,000. $MSTRhttps://t.co/bF6VImC0Qy

— Michael Saylor (@saylor) February 1, 2022

Saylor stated earlier that:

“In a world where, say, Goldman Sachs (NYSE:) and Morgan Stanley (NYSE :), Merrill Lynch and Bank of America, Merrill Lynch and CitiGroup as well as JPMorgan (NYSE 🙂 are involved. The options available and counter-party risks that we will have to take will likely be higher.

Saylor mentioned, too that every cryptocurrency serves a different purpose. He sees bitcoin as a ‘’digital property’’ and a store of value, whereas blockchain seems to interrupt traditional finance.

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