SummaryMicroStrategy holds 129,699 Bitcoins in total and hasn't sold a single satoshi since making its first purchase in 2020.Michael Saylor is being sued for tax invasion in Washington, DC but this is just "noise" that has nothing to do with Bitcoin's long-term value.Bitcoin may drop much lower leading up to block #770,000, so my strategy is to hold MSTR stock for now.MicroStrategy (MSTR) is my favorite Bitcoin (BTC-USD) proxy stock that doesn't charge any annual fees unlike Grayscale Bitcoin Trust (GBTC).I've been a longtime believer in Bitcoin and decided to double down on my MSTR stake in my IRA as a long term store of value.There's been a lot of negative news in the media lately surrounding MicroStrategy's executive chairman Michael Saylor.Being born and raised in DC, I felt like this story hit close to home since the District of Columbia is suing Saylor for tax evasion.There's also plenty of rumors circulating about a potential Bitcoin margin call if Bitcoin continues dropping in price. As of writing this article, BTC trades around $19,000 and broke down past $20,000 support.Bitcoin Price data by YChartsIf you've been following me for some time, you already know about the Bitcoin halving cycle and how it effects the crypto markets.Bitcoin could easily trend much lower leading up to block #770,000 where I predict the price will bottom and start recovering leading up to the 2024 Bitcoin halving.In this article, I want to t...
