Michael Saylor has one big rule before you buy Bitcoin

Michael Saylor has spent six years telling the world to buy Bitcoin. In a recent investor Q&A, he said something that sounded like the opposite, and meant every word of it.

"If your time horizon is less than four months, you probably should own a money market," Saylor told investors directly.

"If you want a good return in four months to four years, you're probably a credit investor. If you're holding the equity, you need a minimum time horizon of four years. Ideally seven to ten."

Saylor was even more direct when asked about investors trying to predict Bitcoin's short-term price moves.

"If you're a short-term price predictor, you're a trader, I don't really have much useful wisdom for you," Saylor said.

"My advice is: don't invest in Bitcoin unless you're going to hold it for more than four years. Ideally, hold it for 10 years."

This was not a retreat from his Bitcoin conviction. It was the clearest explanation he has given of who Bitcoin is actually for, and who it is not.

The four year rule

Saylor's framework is straightforward. He divides investors into three categories based on time horizon and risk tolerance.

Related: Musk is putting Dogecoin on the moon in 28 days, here's what $1,000 then is worth today