Michael Saylor is the founder and CEO of the business intelligence company MicroStrategy (MSTR -6.13%). He is also known for being one of Bitcoin's (BTC 0.64%) most vocal supporters. 

He believes so much in Bitcoin that MicroStrategy as a company owns nearly 130,000 bitcoins.

The company even took out a Bitcoin-backed loan to buy $190 million more worth of Bitcoin. To say the Bitcoin evangelist has put his money where his mouth is would be an understatement.

What Saylor is saying

So, with the recent price drop of Bitcoin and the cryptocurrency market in general, how is Saylor reacting?

In an interview on Fox Business, Saylor elaborated on his beliefs about Bitcoin and his company. 

He informed listeners that MicroStrategy has taken a long-term view of Bitcoin. Therefore, the short-term fluctuations are just noise. 

Saylor described how Bitcoin has gone through three boom-and-bust cycles in the last two years. This is nothing new for Bitcoin, and it is a natural phenomenon for new assets to be volatile through their journey of price discovery. 

He further described how this volatility is a crisis for short-time investors. But for those with a time frame of 10 years or greater, Bitcoin is proving to be a "low risk store of value asset." 

As he pointedly remarked, "It all comes down to what is your time horizon."

Regulation looming

He further discussed the prospects of regulation in the coming years. He believes certain forms of regulation from the U.S. government would be beneficial to solidifying Bitcoin. 

The goal of regulation is to help clarify what exactly Bitcoin is. Is it a commodity, security, or currency? Should the SEC or CFTC oversee this regulation?

Currently, those questions do not have answers.

Saylor believes that once the government releases this guidance, then it will allow institutional investors to follow clear and concise guidelines so that they can start to utilize the asset. 

What is his next move?

Saylor was vocal about how the current price drops draw a considerable amount of fear-mongering and attention. Yet most people seem to forget about Bitcoin's milestones and price appreciation in the past. 

The MicroStrategy CEO highlighted that Bitcoin is up 51% on average over the last five years. For the past ten years, it's up 124%. And in the last two years, it has outperformed the Nasdaq ten times over.  

Saylor has officially bought the dip with hopes that these current price appreciation trends will continue. Additionally, in the last week of June, MicroStrategy announced that it had purchased another $10 million worth of Bitcoin. This buy raises its balance to roughly $4 billion of Bitcoin.

For Saylor, the recent pullback is purely an opportunity to buy at a lower price. By buying now, he believes that he is increasing his profitability years down the line when Bitcoin is hopefully worth more. To him, everything is about time preference. For those with a long time horizon, Saylor argues that there is no better investment than Bitcoin.