Bitcoin
Michael Saylor Reveals Crucial Bitcoin Statement as Price Rebounds
Gamza Khanzadaev
Bitcoin price recovery coincides with significant statement from Michael Saylor
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From today, Sunday afternoon, the price of Bitcoin (BTC) is trading in slightly negative territory at $63,700. However, during the last week, we can say that the price of the main cryptocurrency grew by almost 1%.
Delving deeper into BTC Price chart, we can see that from the week’s lows of $56,552 to highs of $64,734, Bitcoin rose 14.3%. That’s a pretty solid result for an asset whose capitalization exceeds $1.25 trillion.
BTC to USD per CoinMarketCap
Amid these market movements, michael saylor, a prominent cryptocurrency advocate, made a significant statement titled “Bitcoin Emerges.” The statement, characteristic of Saylor’s consistent support for the cryptocurrency, signals a notable moment in Bitcoin’s ongoing narrative.
MicroStrategy Macrosteps
In addition to Saylor’s announcement, MicroStrategy, the company he leads, introduced a new development known as MicroStrategy Orange earlier this week. This open-source decentralized identity protocol utilizes Bitcoin’s Segregated Witness capabilities, enabling efficient storage of DID-related data with minimal size and content restrictions.
Regarding MicroStrategy Bitcoin holdings, the company revealed impressive numbers in its latest earnings report. With 214,400 BTC valued at over $7.5 billion, the company continues to assert its position as a major BTC holder.
Notably, the company increased its holdings by acquiring an additional 122 BTC for $7.8 million in April, further strengthening its cryptocurrency reserves. Despite a 5% year-over-year decline in revenue totaling $115 million, MicroStrategy remains focused on its Bitcoin-focused approach.
About the author
Gamza Khanzadaev
Financial analyst, trader and crypto enthusiast.
Gamza graduated in finance and credit with a specialization in securities and financial derivatives. He also completed a master’s program in banking and asset management.
He wants to help cover economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.