Not afraid of Bitcoin's big drop?
After several weeks of crazy increases in early November, Bitcoin ($BTC) experienced a significant pullback this week. According to CoinGecko data, Bitcoin dropped from a high of $98,567 on Monday (November 25) and fell below $91,000 yesterday, currently trading at $92,701 at the time of writing, with extreme volatility.
Image source: CoinGecko Bitcoin price chart
Although this week's market reversal has led many investors to consider taking profits, creating a subtle change in market sentiment, Michael Saylor, the founder of MicroStrategy and a steadfast believer in Bitcoin, has once again voiced his support for Bitcoin.
MicroStrategy CEO: It's never too late to buy
On Tuesday (November 26), during the market decline, Michael Saylor emphasized on social platform X that 'it's never too late to buy Bitcoin.' MicroStrategy again demonstrated its trust in Bitcoin by announcing on November 25 that it had purchased 55,500 BTC at an average price of approximately $97,862 per Bitcoin, totaling about $5.4 billion, setting the record for the largest single Bitcoin purchase in the company's history.
Image source: Tweet from X Michael Saylor
This is MicroStrategy's second large-scale Bitcoin investment this year; the last significant purchase was in early November when the company acquired a batch of Bitcoin for $4.6 billion. To date, it has accumulated approximately 386,700 Bitcoins, valued at about $21.9 billion.
Michael Saylor repeatedly emphasized that Bitcoin is not only an inflation-resistant asset but also the cornerstone of the future financial system. He previously predicted that Bitcoin's price could reach $13 million within the next decade, gradually capturing part of gold's market value and becoming a more efficient store of value.
Image source: Tweet from X Samson Mow
Bitcoin supporters like Samson Mow, XPRIZE Foundation founder Peter H. Diamandis, and Natalie Brunell, host of the Bitcoin podcast Coin Stories, all support his view, believing that for long-term investors, this drop may be a good opportunity to enter the market.
With firm support from industry leaders like Michael Saylor and significant investments, more and more investors believe that Bitcoin is not just a speculative tool but also an important component of asset allocation for businesses and individuals in the new era. If global adoption continues to rise, Bitcoin's value could far exceed current expectations in the next decade.
【Disclaimer】The market has risks; investment must be cautious. Analyst opinions are for reference only. Users should consider more diverse indicators to determine whether to invest and consider whether any opinions, views, or conclusions in this article are suitable for their specific situation. Invest at your own risk.
'Not afraid of Bitcoin's big drop? MicroStrategy: It's never too late to buy, looking at $13 million in 10 years' was first published in 'Crypto City'
