According to U.Today, Michael Saylor, the cofounder and executive chairman of MicroStrategy and a well-known Bitcoin advocate, has used the X social media platform to comment on Bitcoin's recent nearly 5% surge. Over the past 24 hours, Bitcoin has regained the $63,000 level and even briefly surged above $63,560. Saylor encouraged bullishness on Bitcoin, addressing the global BTC community.
Saylor responded to the sudden BTC price increase with a message urging the cryptocurrency community to sell U.S. dollars and buy Bitcoin. He tweeted the words 'Sell' and 'Buy.' The initials of these words, 'S' and 'B,' symbolize the U.S. dollar and the world's leading digital currency, respectively.
Last week, Bitcoin fell from the $64,470 level, dropping by a significant 7%. The gradual recovery began on Friday, with BTC rebounding and staging a 3.35% recovery, surging to $61,980 by Sunday. The next increase pushed the largest cryptocurrency back above $63,000 and up over $63,500. Currently, Bitcoin is trading at $63,200. However, with the Mt. Gox crypto exchange set to start paying out BTC to investors this week, JP Morgan analysts expect a massive sell-off to begin. The exchange is expected to pay out $9 billion worth of Bitcoin.
In other news, a recent report by the @lookonchain analytics account revealed that on June 28, spot Bitcoin ETFs saw a cumulative inflow of more than $36.5 million in crypto; nine ETFs added approximately 596 BTC. The Invesco Galaxy ETF witnessed the largest inflow – 152 BTC, followed by Bitwise Bitcoin ETF with 131 BTC, and the Fidelity exchange-traded fund with 109 BTC. The lowest inflow was seen by Ark Invest, which accommodated 30 BTC. Bitcoin ETFs have been dominating the market since mid-January when the U.S. SEC regulator granted approval to spot BTC funds, allowing them to begin trading. These ETFs have been accumulating Bitcoin daily. Before the halving in the second part of April, the ETFs scooped up more than 10,000 BTC per day.
