Bitcoin bull and MicroStrategy President Michael Saylor has once again captured the attention of the cryptocurrency community with his recent commentary on X. Bitcoin, the largest cryptocurrency by market cap, has seen significant volatility after hitting a high record of $73,797.68 last year. week.
Bitcoin bull and MicroStrategy President Michael Saylor has once again captured the attention of the cryptocurrency community with his recent commentary on X. Bitcoin, the largest cryptocurrency by market cap, has seen significant volatility after hitting a high record of $73,797.68 last year. week.
The leading cryptocurrency has since fallen nearly 13% from its all-time high as appetite for nascent Bitcoin exchange-traded funds cools. Strategists at JPMorgan Chase and Co. have warned that the retreat has room to advance.
In this context, Saylor made a comment about X regarding volatility.
“Volatility is vitality” Taylor he wrote on X in an upbeat statement that appears to allude to the current volatility experienced in the crypto markets. An X user, Crypto Tea, commented on Saylor’s post: “Volatility is the price you pay to outperform the stock market by 10x.”
At the time of writing, BTC was down 5.12% in the last 24 hours to $63,196, having fallen to intraday lows of $62,570 from highs of $66,651. Despite the recent BTC price drop, Bitcoin has outperformed annually, recording 120% growth.
MicroStrategy now owns more than 1% of Bitcoin supply
MicroStrategy recently made its second multi-million dollar Bitcoin purchase, bringing its total holdings to more than 1% of all the Bitcoin that will ever be issued.
Michael Saylor started buying Bitcoin in 2020 as an inflation hedge and cash alternative. The company now holds 214,246 BTC and the maximum total supply of Bitcoin is 21 million, with around 19.7 million tokens issued to date. The 21 million supply milestone is expected to be reached by 2140.
According BloombergAbout a quarter of MicroStrategy’s Bitcoin purchases occurred in 2024, at an average cost more than double that of the previous year.
The average price of the most recent Bitcoin acquisition was $67,382, while the average price of MicroStrategy’s total BTC holding was $35,160.
