Find out the latest developments in the cryptocurrency market.
MicroStrategy Chairman Michael Saylor argues that the disruptions are good for #bitcoin .
#BTC has fallen to around $60,000 amid rising tensions between Iran and Israel.
#MicroStrategy lost more than $1.5 billion in 24 hours after the collapse.
Michael Saylor, founder and chairman of MicroStrategy, expressed that "disruption is good for bitcoin. " Mr. Saylor shared this opinion in a post on the X website on Saturday, when bitcoin collapsed to the $60,000 threshold.
Chaos is good for bitcoin.
Notably, bitcoin has collapsed by more than 10% in the last 24 hours, from the $68K mark to the $60K level. Experts attribute this sharp drop to the rising tensions in the world, especially between Iran and Israel.
Bitcoin's fall has significantly affected leveraged traders, especially those who opened long positions in BTC: according to WhaleWire, more than $1.2 billion of long positions in bitcoin have been liquidated in the last 24 hours alone. Since bitcoin bulls haven't experienced such liquidations in the last 15 years, WhaleWire believes this figure sets a new record.
Despite such a significant economic impact, the head of MicroStrategy believes that this development due to political turmoil is favorable for bitcoin. Meanwhile, MicroStrategy has also been directly affected by the market turmoil.
Over the past 24 hours, MicroStrategy, which has 214,245 BTC in its portfolio, has lost over $1.5 billion USD as BTC had an intraday high of $67,900 USD and a low of $60,900 USD. However, with an average BTC purchase price of $35,372, Bitcoin Whale is still making a staggering profit of more than $6.26 billion. The company lost money on just its last two bitcoin purchases, which totaled more than $BTC Meanwhile, #cryptocurrency market players have challenged Mr.
Read us at: Compass Investments
