Michael Saylor Issues ‘Bitcoin Capitol’ Tweet as BTC Seeks to Regain $70,000

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As an analyst with a decade of experience in the financial industry, I find myself intrigued by Michael Saylor’s unwavering commitment to Bitcoin and his strategic approach towards MicroStrategy. His latest tweet, “Make Washington the #Bitcoin Capitol,” is a bold move that showcases his confidence in the future of cryptocurrency.

On his official account on the X social media platform (previously known as Twitter), Michael Saylor, founder and ex-CEO of MicroStrategy, recently posted another Bitcoin-related update for his numerous fans.

Saylor’s “Bitcoin Capitol” tweet

On a regular basis, Saylor shares tweets concerning Bitcoin, and today, he posted an artificially intelligent image depicting him seated on the stairs of the United States Capitol building with the caption: “Let’s turn Washington into the Bitcoin Capital.

The tweet was posted exactly as the U.S. election day commenced, attracting attention not just from American cryptocurrency owners, but from people all around the globe. Everyone eagerly awaits the results.

Make Washington the #Bitcoin Capitol

— Michael Saylor⚡️ (@saylor) November 5, 2024

In the past day, Bitcoin, the leading cryptocurrency globally, has seen a 2.88% price jump. It moved from around $66,990 to $68,790 at the current moment. Despite this recent rise, Bitcoin has been attempting to break through its current price threshold over the last few days following a drop below the $71,330 mark last Friday. Since then, it has lost about 3.5% and is trying hard to reclaim the $70,000 level.

Nine core principles for MicroStrategy’s success, per Saylor

Over the weekend, Michael Saylor shared a tweet in which he revealed nine key principles of the Bitcoin strategy that have propelled the company to the top, with a market cap of $4.77 billion as of October 2024.

Beginning August 2020, when MicroStrategy started its Bitcoin approach involving routine BTC purchases and additional debt acquisition to bolster these holdings, the company’s stock price (MSTR) has experienced extraordinary growth exceeding 1,540%. This impressive surge surpasses the S&P 500 index’s own increase of 111% since that time.

In his weekend tweet, Saylor wrote that MSTR was “in an exclusive relationship with $BTC,” hinting that he owes the company’s success to the bellwether cryptocurrency.

As an analyst, my focus revolves around implementing the following fundamental strategies:

Just last week, Saylor astounded the financial community by disclosing ambitions to amass a staggering $42 billion in funds within the next three years, with the intention of purchasing additional Bitcoins for the company.

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2024-11-05 18:27