Michael Saylor, president and co-founder of MicroStrategy, has made an epic call to the crypto community: “Learn to think about Bitcoin.” TaylorThe message comes at a time when the cryptocurrency market is experiencing a lull, with Bitcoin and many major assets showing little to no movement.
Michael Saylor, president and co-founder of MicroStrategy, has made an epic call to the crypto community: “Learn to think about Bitcoin.” TaylorThe message comes at a time when the cryptocurrency market is experiencing a lull, with Bitcoin and many major assets showing little to no movement.
Bitcoin fell to its lowest price in almost a month on Friday, hitting lows of $65,005 before recovering slightly. The price of Bitcoin currently stands at $66,571, according to data from CoinMarketCapup 0.40% on the day, while the current market performance remains mixed, with a handful of cryptocurrencies posting losses in the 24-hour period.
As the market is relatively quiet, some, including Saylor, see this as a time for introspection and strategic thinking, hence the call to “learn to think about Bitcoin.”
Saylor began buying Bitcoin in 2020 as a hedge against inflation and an alternative to holding cash. Saylor’s company MicroStrategy has accumulated around $12.7 billion worth of Bitcoin, or more than 1% of all Bitcoin ever created. The largest cryptocurrency by market cap is up more than 600% since Saylor started buying.
Tomiwabold OlajideBitcoin is up about 60% this year, thanks in part to optimism over US Bitcoin spot ETFs approved in January. MicroStrategy shares have gained about 135% over the same period.
MicroStrategy increased its convertible note offering by 40% to $700 million last week, announcing plans to use the funds to purchase more Bitcoin.
While the context of Saylor’s tweet remains subject to interpretation, the call to “learn to think about Bitcoin” could be a reminder to look at the bigger picture, beyond short-term market volatility.
On the other hand, Saylor’s message could be a call to embrace the financial paradigm introduced by cryptocurrencies, heralding a fundamental shift in how value and wealth are perceived.
