Bitcoin
Michael Saylor Sends Bullish Message on BTC as Bitcoin Recovers from Below $54,000 by U.Today
U.Today – Michael Saylor, co-founder of business intelligence giant MicroStrategy, which has become a leader in accumulation over the past four years, making it part of its development strategy, addressed the crypto community with a bullish tweet about BTC.
This comes as the leading global cryptocurrency recorded a 4.89% recovery in the past 24 hours, pulling away from the $53,900 zone it hit on Friday.
Saylor’s Message to the Bitcoin Community
Michael Saylor addressed the global Bitcoin community with a message about Bitcoin’s stability: “1 BTC = 1 BTC.” He commented on the recent rollercoaster ride that the BTC market has seen, with Bitcoin dropping more than 15% between Monday and Friday, wiping out $10,000 of its price.
On Friday, digital gold began to reverse, at least for now, and recorded a nearly 5% increase, rising from $53,900 to the $56,550 level, where it is changing hands at the time of writing.
The price increase came as the U.S. released its June nonfarm payrolls report, which came in better than analysts had initially expected — 206,000 versus an expected 190,000.
US and German governments, Mt Gox selling Bitcoin
In the past three weeks, two major entities have sold impressive amounts of Bitcoin, while the third has so far moved only billions of US dollars.
The US, German governments and now-defunct cryptocurrency exchange Mt Gox began transferring Bitcoin on June 19. Cumulatively, they have moved $1.08 billion worth of Bitcoin, which is equivalent to 17,778 BTC. Since July 1, the German government has been selling Bitcoin every day, according to smart wallet tracker Lookonchain. These entities now collectively hold a whopping 396,210 BTC valued at approximately $22.78 billion. The US government holds 213,297 BTC (valued at $11.72 billion), Germany still holds 41,226 BTC (worth $2.28 billion), while Mt Gox so far holds 141,687 BTC, which is equivalent to $7.78 billion.
Mt Gox has started paying out Bitcoin to investors who suffered from the hack in 2014.
Bitcoin held by governments has been confiscated primarily from illegal operations and money laundering. The U.S. government also still holds Bitcoin seized during the shutdown of the darknet marketplace Silk Road, founded and run by Ross Ulbricht over 10 years ago until it was shut down in 2013.