Michael Saylor, the founder of MicroStrategy and previously its CEO, holds significant influence within the Bitcoin community. After relinquishing his CEO role, he has dedicated himself to MicroStrategy’s Bitcoin strategy, a commitment the company adopted in 2020.
More recently, he took to his X or Twitter account to highlight the potential influence of the upcoming Bitcoin halving on its market price. Contrary to popular belief, this tweet doesn’t relate to Bitcoin Pizza Day – though that event is also approaching, it’s not as imminent as the halving itself.
Michael Saylor’s Bitcoin halving message
Michael Saylor shared a brief video on social media along with the caption: “Bitcoin takes finance a step further.”
#Bitcoin moves money forward.
— Michael Saylor⚡️ (@saylor) April 15, 2024
The video illustrates how many pizzas were purchasable with one Bitcoin at its inception, and then demonstrates the significant increase in pizza purchases using one Bitcoin over time, from the year 2020 back to the present moment.
The video’s core idea was that unlike traditional currency whose purchasing power decreases over time, making the same amount buy fewer goods, Bitcoin’s value remains distinct.
The video doesn’t explicitly discuss the Bitcoin halving, but it notes that “the Bitcoin supply is decreased every four years.”
In the next few days, Bitcoin will undergo halving, a significant event for the cryptocurrency and its followers. Many influential figures in the Bitcoin world are now emphasizing its importance.
Bitcoin halvings push BTC price up
Each time Bitcoin undergoes a halving, which reduces the number of new coins entering circulation, this scarcity can significantly boost the cryptocurrency’s value, causing its price to surge. For instance, Bitcoin reached all-time highs of $20,000 in 2017 following the 2016 halving, and later hit a historic peak of $69,000 after the April 2020 halving event.
In 2021, Bitcoin surpassed its all-time high (ATH) prior to the halving event, with prices nearly touching $73,000 in March. The significant increase can be attributed to the intense buying activity of spot Bitcoin Exchange Traded Funds (ETFs), which began in January.
Samson Mow, a well-known figure in the cryptocurrency world, believes that Bitcoin’s “Omega event” could happen relatively soon following the upcoming halving.
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2024-04-16 16:16