[Michael Saylor issues bullish BTC news as Bitcoin recovers from below $54,000]
Michael Saylor, co-founder of MicroStrategy, recently issued a bullish Bitcoin post to the crypto community at a time when Bitcoin has rebounded 4.89% in the past 24 hours, from Friday’s The $53,900 area rebounded to $56,550. Michael Saylor delivered a message to the global Bitcoin community about Bitcoin’s stability: “1 BTC = 1 BTC” and commented on the volatility of the Bitcoin market.
On Friday, Bitcoin began a reversal, recording gains of nearly 5%, recovering from $53,900 to $56,550. This price growth occurred after the United States released the June non-farm payrolls report, which reported better-than-expected data - 206,000 vs. Expected 190,000.
Two large institutions have been selling large amounts of Bitcoin over the past three weeks, while a third has been moving billions of dollars worth of Bitcoin. The U.S., German governments, and the defunct Mt. Gox crypto exchange began moving Bitcoin on June 19, with a total of 17,778 BTC moved. The German government has been selling Bitcoin every day since July 1, according to the Lookonchain Smart Wallet Tracker.
Currently, these institutions hold a total of 396,200 Bitcoins worth approximately $22.78 billion. The U.S. government holds 213,297 BTC (approximately $11.72 billion), Germany holds 41,226 BTC (approximately $2.28 billion), and Mt. Gox holds 141,687 BTC (approximately $7.78 billion).
Mt. Gox has begun repaying Bitcoin and Bitcoin Cash to investors who were damaged in the 2014 hack. These government holdings of Bitcoin were primarily confiscated from illegal operations and money laundering activities. The U.S. government also holds bitcoins confiscated when it shut down the darknet market Silk Road, which was founded and operated by Ross Ulbricht for more than a decade until it was shut down in 2013 .
These developments show that institutions and large holders remain confident in Bitcoin’s long-term value, even in the face of market volatility and selling pressure.
#鴉快訊 $BTC
