MicroStrategy CEO Michael Saylor defended his company's massive bet on Bitcoin (BTC-USD) in the face of a substantial market downturn that has taken the cryptocurrency to its lowest level since late 2020. "Over any timeframe, ... Bitcoin is the best performing asset. I can't come up with a better idea," the head of MicroStrategy (NASDAQ:MSTR) told CNBC. Saylor argued that over the long haul, Bitcoin offers a significant way to preserve value, even if its near-term price sees significant ups and downs. "If your time horizon is one month, Bitcoin looks like a volatile asset. If your time horizon is 10 years, it looks like a risk-off store of value," he contended. The MicroStrategy CEO compared Bitcoin to real estate and certain trophy assets as "scarce desirable property." Saylor added any Bitcoin investor should target a timeline of at least four years. Less than that, he argued, a holder of
