What Happened: In November 2022, Pal tweeted that owning Bitcoin, by all means, was a good idea. “It will probably work very well over 5 years+.”

However, he then went on to ask investors to never “use leverage” to own Bitcoin.

See Also: Top Indian Apps That Give Bitcoin, NFT Rewards

Pal was responding to a Twitter thread by an anonymous user on how MicroStrategy (NASDAQ:MSTR) CEO Michael Saylor had started plowing the company’s cash into Bitcoin.

“The strategy of buying Bitcoin as a replacement of dollars for the company’s treasury is already questionable,” the user tweeted.

The user pointed out that MicroStrategy took $2.2 billion in debt to buy more Bitcoin, which means “leverage of 14 times. It is reckless.”

When asked by another Twitter user “whether this time is as bad as times past"? Pal responded by saying, “No.”

MicroStrategy currently holds 140,000 Bitcoins.

Price Action: At the time of writing, BTC was trading at $30,011, up 5.99% in the last 24 hours, according to Benzinga Pro data.

This story was originally published on Nov. 14, 2022.

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