‘Bitcoin Is the Right Move’: Michael Saylor Unveils Core BTC Strategy

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Michael Saylor, a prominent Bitcoin advocate, MicroStrategy’s executive chairman, and co-founder of the company, posted a fresh update on social media platform X for the BTC community to see.

“Bitcoin is the right move,” Saylor says

Saylor shared an AI-created photograph featuring himself wearing an orange tie (representing Bitcoin), and behind him, actual Bitcoin coins could be faintly seen. Additionally, there were chess pieces in the image, making Saylor’s message to the crypto community resemble a game of chess.

Based on his previous comments, it seems that he’s expressing a strong belief in Bitcoin as a strategic choice or decision.

His tweet attracted a significant amount of interest and views within the cryptocurrency community, resulting in numerous positive and supportive comments from people who agree with Saylor’s perspective on Bitcoin being the main digital asset of the future.

Bitcoin is the right move.

— Michael Saylor⚡️ (@saylor) January 9, 2025

US government may sell 69,000 BTC

According to recent news, it’s been authorized for the U.S. Department of Justice (DOJ) to auction off approximately 69,370 Bitcoins that they seized. These Bitcoins were originally taken from the notorious darknet marketplace known as Silk Road, created by Ross Ulbricht.

The present value of that particular quantity of Bitcoin is roughly equivalent to $6.5 billion in traditional currency. In this case, entities like Battle Born Investments Company, First 100, and 1st One Hundred Holdings attempted to delay the execution of the court’s ruling, aiming to impede the Department of Justice from auctioning off the Bitcoin seized from the infamous marketplace. They also asserted in court that they had a claim on that specific BTC. Nevertheless, the court ruled in favor of the DOJ, allowing them to proceed with a possible sale if necessary.

With the news spreading, the largest cryptocurrency experienced a sudden significant decrease of 3.46%, causing Bitcoin’s price to plummet from around $95,280 to approximately $91,980 today. However, it has managed to regain some ground and is currently being traded at about $92,500 per coin.

There’s a lot of talk in the Bitcoin community on X platform about whether the U.S. government might decide to sell off its Bitcoins before the new president takes office, effectively ending that transaction. Many believe that President-elect Donald Trump, who has expressed interest in establishing a Strategic Bitcoin Reserve for the U.S., would be unlikely to approve of such a large Bitcoin sale, as many crypto influencers and enthusiasts are hoping.

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2025-01-09 19:12