According to U.Today, Michael Saylor, the chairman of MicroStrategy, has urged cryptocurrency holders to act swiftly amidst a falling market. In a metaphorical statement, Saylor advised investors to 'teleport your money to safety,' emphasizing the need for quick and decisive action to protect investments during times of significant market volatility. His advice comes at a time when the cryptocurrency market is experiencing a downturn, with Bitcoin (BTC) falling 1.34% in the last 24 hours to $61,931.
The cryptocurrency market experienced a dip on Tuesday as investors awaited new inflation data and statements from Federal Reserve policymakers. Investors are hoping for indications about the future direction of monetary policy. The April producer price index (PPI), which tracks wholesale inflation, is expected to be released on Tuesday. Economists surveyed by Dow Jones predict that the PPI will rise by 0.3% from the previous month.
MicroStrategy has consistently supported Bitcoin, with Saylor championing the cryptocurrency as a dependable store of value. The company's strategy to maintain its Bitcoin holdings through periods of market volatility demonstrates its belief in the long-term potential of digital currencies. Saylor's message may not only be about preserving capital but also about the importance of taking timely and informed action in uncertain times.