Saylor’s Call to Halt Bitcoin Price Decline
Michael Saylor, the founder and former CEO of MicroStrategy, recently urged the Bitcoin community to resist selling their BTC holdings. The approval of spot-based Bitcoin exchange-traded funds by the Securities and Exchange Commission has prompted increased volatility, leading to a surge in sales and an overall price decline.
MicroStrategy’s Ongoing Bitcoin Accumulation
During Saylor’s tenure as CEO, MicroStrategy began consistently acquiring substantial amounts of Bitcoin and incorporating them into its balance sheet. The company has issued bonds to facilitate Bitcoin purchases, and their most recent acquisition totaled 14,620 Bitcoins valued at $615.7 million between November and December 2023.
As of now, MicroStrategy holds an impressive 189,150 BTC, equivalent to a staggering $8,666,777,340, with intentions to amass 1% of Bitcoin’s total circulating supply. The company is also exploring issuing additional bonds to raise $750 million to further bolster its Bitcoin reserves.
Bitcoin Community’s Response
In response to Saylor’s commitment to Bitcoin, prominent Bitcoin maximalist Max Keiser acknowledged his efforts, crediting him for elevating Bitcoin’s status and contributing to the recent ETF approval. The community awaits further developments in the current market turbulence under Saylor’s guidance.
Hot Take
Michael Saylor, the founder and former CEO of MicroStrategy, issued a call to the Bitcoin community to resist selling their BTC holdings amid a substantial decline in Bitcoin prices. He aims to halt the current slide and steer the community away from further selling pressures. MicroStrategy has been accumulating substantial amounts of Bitcoin, with intentions to amass 1% of Bitcoin’s total circulating supply. And prominent Bitcoin maximalist Max Keiser acknowledged his efforts, crediting him for elevating Bitcoin’s status and contributing to the recent ETF approval.
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