As Bitcoin (BTC) experiences a period of price pause, Michael Saylor, the chairman of MicroStrategy, has made a public declaration that has resonated throughout the cryptocurrency community. His message is simple and direct: "Bet on Bitcoin."
Saylor's statement comes at a pivotal moment for Bitcoin. After significant price movements, the world's biggest cryptocurrency is seeing unusual calm.
In a recent tweet, Saylor reinforced his unwavering confidence in Bitcoin, saying to "bet" on the digital asset despite the current price pause. This bold proclamation is not out of character for Saylor, who has consistently championed Bitcoin as a superior store of value and a hedge against inflation.
Bet on #Bitcoin. pic.twitter.com/ulmBDWDptW
— Michael Saylor⚡️ (@saylor) May 18, 2024
MicroStrategy, under Saylor's leadership, has been at the forefront of corporate investment in Bitcoin. The company's aggressive acquisition strategy has seen it amass a substantial Bitcoin portfolio, making it one of the largest institutional holders of the cryptocurrency. Saylor's latest message "Bet on Bitcoin" might be a reaffirmation of his belief in Bitcoin's long-term potential.
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The timing of Saylor's statement is noteworthy as it coincides with a broader market sentiment that is cautiously optimistic.
On Friday, the price of Bitcoin (BTC) rose above $67,000 for the first time in nearly a month, as bulls emerged after eight weeks of sideways to lower movement. Following this feat, the Bitcoin price has shown relatively little movement, failing to reach $68,000 as bulls take a little respite.
Bitcoin was trading up 0.06% in the last 24 hours to $67,007, having reached intraday highs of $67,701. Bitcoin is still up 10% over the last seven days. As the market watches and waits for Bitcoin's next move, Saylor's voice serves as a bullish counterweight, encouraging crypto holders to remain firm in their beliefs.