Bitcoin
Michael Saylor Delivers Epic Bitcoin Call Amid Market Calm: Details by U.Today
U.Today – Michael Saylor, president and co-founder of MicroStrategy, made an epic plea to the crypto community: “Learn to think.” Saylor’s message comes at a time when the crypto market is experiencing a lull, with Bitcoin and many major assets showing little to no movement.
Bitcoin fell to its lowest price in nearly a month on Friday, hitting lows of $65,005 before recovering slightly. Bitcoin’s price currently stands at $66,571, according to data from CoinMarketCap, up 0.40% on the day, while current market performance remains mixed, with a handful of cryptocurrencies recording losses in the 24-hour period.
As the market is relatively calm, some, including Saylor, see this as a time for introspection and strategic thinking, hence the call to “learn to think about Bitcoin.”
Saylor began buying Bitcoin in 2020 as a hedge against inflation and an alternative to holding cash. Saylor’s company, MicroStrategy, has accumulated about $12.7 billion worth of Bitcoin, or more than 1% of all Bitcoin ever created. The largest cryptocurrency by market cap is up more than 600% since Saylor began buying.
Bitcoin is up about 60% this year, thanks in part to optimism regarding US Bitcoin spot ETFs approved in January. MicroStrategy shares are up about 135% over the same period.
MicroStrategy increased its convertible note offering by 40% to $700 million last week, announcing plans to use the funds to buy more Bitcoin.
While the context of Saylor’s tweet remains subject to interpretation, the call to “learn to think about Bitcoin” may be a reminder to look at the bigger picture, beyond short-term market volatility.
On the other hand, Saylor’s message could be a call to embrace the financial paradigm introduced by cryptocurrencies, heralding a fundamental shift in the way value and wealth are perceived.