As a seasoned crypto investor with over a decade of experience under my belt, I must admit that Michael Saylor’s latest post has piqued my interest once again. The man knows how to stir the pot, and his infographic is a testament to MicroStrategy’s strategic move towards Bitcoin in 2020.
Michael Saylor, CEO of the significant software production company MicroStrategy and a recognized advocate for Bitcoin, stirred up the crypto world with a fresh, viral post on Monday. His post, titled “Hold On,” displayed an infographic outlining the price development of different assets like BTC, MSTR shares, and the S&P 500 since MicroStrategy adopted its Bitcoin strategy on August 20th.
Over the past four years, Microstrategy stock emerged as the top-performing asset, increasing an impressive 1,325%, according to Saylor’s chart. The second most profitable asset was cryptocurrency itself, providing its investors a substantial 451% return on their investment.
Starting from the summer of 2020, Bitcoin’s price soared to an unprecedented peak of $69,000. However, following the downfall of FTX, its value plummeted to $15,500. Subsequently, it recovered and reached another record high at $74,000.
#HODL ON
— Michael Saylor⚡️ (@saylor) September 30, 2024
Over a period of four years, the increase in the S&P 500, a key U.S. stock market index, was approximately 71%. While this is undeniably significant, it pales in comparison to the performance of MSTR and BTC during the same timeframe.
No worries for Michael Saylor
Saylor’s message isn’t meant to brag, but rather to reiterate his positive outlook on significant cryptocurrencies. Over the past four days, Bitcoin’s price has climbed back over $65,000, however, the weekend surge ended with a slight drop to $63,500.
Although it may not seem significant in terms of percentage shifts, such an action has caused concern among traders, who are now contemplating whether Bitcoin might dip to crucial support levels around $62,300 and potentially fall further to $58,000.
Regarding Bitcoin’s potential future, it remains unclear, however, based on his latest post, Michael Saylor seems unfazed by short-term fluctuations.
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2024-09-30 16:35