Bitcoin crash ‘absolutely’ a buying opportunity, Michael Saylor says

Saylor was also asked if the recent dip in crypto prices, and bitcoin in particular, presented a buying opportunity for investors.

“Absolutely,” he responded.

See also: Why is crypto crashing? Mark Cuban says ‘crypto is going through the lull that the internet went through’

Saylor has been a promoter of bitcoin for years, and just a few hours before his interview with CNBC, he tweeted “1 BTC = 1BTC,” a likely reference to not paying too much attention to short-term price movements.

He later tweeted on Thursday that “bitcoin is an antidote to chaos” after recent major swings in the U.S. stock market.

A potential margin call could be looming for Saylor and MicroStrategy, which could lead the company to selling some of its more than 130,000 bitcoin, according to a report from MarketWatch’s Steve Goldstein.

See also: Here’s how much money you would’ve lost if you bought crypto during Matt Damon’s ‘Fortune Favors the Brave’ commercial

The quotes come during a tumultuous time for bitcoin investors. Bitcoin was trading just above $21,000 as of Wednesday morning, nearly 70% lower from its all-time high in November 2021, according to CoinDesk data. 

According to analysts at Mizuho, roughly half of bitcoin holders using Coinbase
COIN,
+0.33%
as their primary exchange are facing losses.

See also: After Fed’s biggest rate hike since 1994, make these 3 financial moves right now

Crypto is not the only market experiencing major selloffs. This week, the Dow Jones Industrial Average
DJIA,
-0.13%
and the S&P 500 Index
SPX,
+0.22%
entered bear market territory. U.S. stocks saw a small uptick on Wednesday as the Fed approved its largest rate hike in almost three decades.