Michael Saylor Issues Bitcoin

Statement Amid $1 Billion Market

Crash

Cryptocurrencies were hit hard by a wave of risk aversion in global markets on Monday, with Bitcoin falling more than 16% at one point. The declines come as a global stock sell-off deepens, indicating concerns about the economy.

Total liquidations in the last 24 hours have risen to $1.07 billion, with longs responsible for $908.51 million of the wipeout, according to CoinGlass data.

Amid the sell-off, Michael Saylor, the chairman and cofounder of MicroStrategy, has sent out an optimistic tweet: "Believe in Bitcoin." Saylor's message comes at a crucial time when the market is grappling with fear and uncertainty.

Believe in #Bitcoin pic.twitter.com/QSEH193sg

- Michael Saylor / (@saylor) August 4, 2024#BTCMarketPanic #RecessionOrDip? #MarketDownturn $BTC $ETH $BNB