As an analyst with a background in finance and experience following the cryptocurrency market closely, I have observed Michael Saylor’s strong endorsement of Bitcoin through his tweets and actions. In his latest statement, he emphasized Bitcoin’s strength as a store of value by comparing it to other assets like gold, S&P 500, US real estate, fiat currencies such as the Nigerian naira, Turkish lira, and Argentine peso.
Michael Saylor, the founder of MicroStrategy and a significant investor in Bitcoin, once again expressed his support for the trailblazing cryptocurrency in a recent tweet. In this message, he highlighted Bitcoin’s impressive attributes as a store of value, making comparisons to other assets.
Saylor took to his X/Twitter account to say “Bitcoin is for the money you can’t afford to lose.”
#Bitcoin is for the money you can’t afford to lose.
— Michael Saylor⚡️ (@saylor) April 30, 2024
As a researcher examining Michael Saylor’s animated chart presented in a tweet, I noticed that since Bitcoin underwent its second halving event in 2016, it has maintained a perfect representation of its initial value in terms of Bitcoin itself. This implicates an unwavering consistency as a store of value, according to Saylor’s suggestion, surpassing the performance of various alternatives such as gold, S&P 500, U.S. real estate, U.S. dollar, Nigerian naira, Turkish lira, and Argentine peso.
MicroStrategy adds more Bitcoin in April
In April, MicroStrategy, under the leadership of Bitcoin advocate Michael Saylor, purchased an additional 122 Bitcoin coins. The cost for these coins amounted to approximately $7.8 million, with each coin being bought at an average price of $63,934.
As a researcher, I’d put it this way: My current estimation places the company’s Bitcoins at around 214,400 units. The value of these Bitcoins, based on the present market price, reaches an astounding figure of approximately $5.68 billion.
In the past month, Bitcoin, the most valued cryptocurrency, experienced a significant decrease in price. It fell from a high of around $72,450 to its current value of approximately $58,150.
In the previous 24 hours, Bitcoin experienced a significant setback, approximating a 10% decrease. This downturn was influenced by several key events: Binance‘s CEO, Changpeng Zhao, was sentenced to serve a prison term for four months; Bitcoin advocate Roger Ver was taken into custody in Spain for tax evasion allegations; and Hong Kong’s Bitcoin-Ethereum ETFs underperformed on their debut trading day. These occurrences contributed substantially to the cryptocurrency market’s current state.
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2024-05-01 17:48