Michael Saylor, a staunch Bitcoin advocate and founder of MicroStrategy, a business intelligence software company, has posted a mysterious post on his X (formerly known as Twitter) account, which could hint at a new buying opportunity for BTC. His post comes as the price of the world's leading cryptocurrency fell more than 2% overnight, reaching the $58,300 region. Saylor posted an image of a heavy truck with the BTC mascot on the side along with the message: "We're gonna need a bigger truck. #Bitcoin." Many commentators have responded positively to Saylor's message, sharing their positive views on BTC.
In the past 24 hours, Bitcoin has dropped 2.84%, from $60,000 to the $58,300 region. Meanwhile, the BTC price has recovered somewhat and is currently hovering at $58,620. Bitcoin fell more than 7.5% last week, from $61,330 to $56,660, but regained 6.11%, reaching $60,127 on Sunday before falling nearly 3%.
A recent post by the analytics account @lookonchain on X shows that Ceffu, a company that provides custody and liquidity solutions for financial institutions, has transferred $211 million worth of cryptocurrency (3,568 BTC) since late July. The analytics account concluded that this could be a sign of financial institutions dumping their Bitcoin.
Meanwhile, some Bitcoin spot funds continue to absorb BTC, but investors continue to withdraw Bitcoin from Grayscale's GBTC. On Friday, the total outflow from this exchange-traded BTC fund was 975 BTC.$BTC
