Many participants in the crypto market have become accustomed to MicroStrategy CEO Michael Saylor's posts regarding Bitcoin. As a well-known proponent of the first cryptocurrency, Saylor regularly publishes posts on his social media accounts reiterating his bullish stance on the asset.
Sometimes they are serious and contain some crucial information about Bitcoin. Other times, however, they are more like memes and just plain bullish. This most recent example fits in the latter category.
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In it, Michael Saylor, apparently using artificial intelligence, depicted himself in front of the famous Wall Street bull and accompanied the picture with the caption, "Each day I grow more ₿ullish." What could be more eloquent about how the Microstrategy CEO feels about Bitcoin?
Each day I grow more ₿ullish. pic.twitter.com/SenFNBLsP5
— Michael Saylor⚡️ (@saylor) August 29, 2024
However, Saylor's words are backed up by his actions, as MicroStrategy is already one of the largest holders of Bitcoin, with 226,500 BTC, worth $13.68 billion. This is definitely not the end of the buying from the tech company's side, and as September approaches, we can expect a new purchase announcement from Saylor and company very soon.
Bitcoin or MSTR?
Meanwhile, Bitcoin is up 2.7% in today's market, pushing it back above $60,000 per BTC. The key price level was lost for some time recently, after Nvidia's report disappointed traders. As a beta to tech stocks, Bitcoin also lost ground, but we may see that the buyers are still here. And Saylor is definitely one of them.
BTC to USD by CoinMarketCap
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What is funny is that while Bitcoin is falling as a beta to tech stocks, MicroStrategy stock MSTR itself became a beta to the cryptocurrency, considering how much cryptocurrency it holds - so much so that even miners like Vortex Brands are starting to acquire MicroStrategy stock as a strategic asset.
