As an analyst with over two decades of experience in financial markets and technology industries, I find Michael Saylor’s recent tweet both intriguing and insightful. His “Ride or Die” message, coupled with the biker image, is a bold and catchy call to action that speaks to his conviction in Bitcoin’s potential.
Michael Saylor, a fervent advocate for Bitcoin and the co-founder of the business intelligence titan MicroStrategy, has penned an address that targets Bitcoin owners globally, as well as those who might be undecided about investing in the leading cryptocurrency.
“Saylor posted on Twitter with the message ‘Ride or Die. #Bitcoin’, suggesting a likeness of him riding a motorcycle. This seems to be an invitation for people to hop onto the Bitcoin train while its price is still considered reasonable by some.”
As an analyst, I’m observing that Bitcoin has rebounded from some of its recent losses, recording a 2.19% growth over the past 24 hours. Currently, it is being traded at approximately $58,470, having recovered from the trading zone around $57,280.
Ride or Die. #Bitcoin
— Michael Saylor⚡️ (@saylor) September 2, 2024
For the past seven days, Bitcoin experienced a significant drop that culminated on Sunday with a decrease of 11.32%. This dip caused Bitcoin’s price to plummet from approximately $64,540 to around $58,470.
In a recent tweet published last week, Saylor admitted that he grows “more bullish every day.” These posts containing images and short Bitcoin slogans have now become regular with Saylor publishing them on a daily basis. As of August, Saylor’s company MicroStrategy holds a total of 226,500 Bitcoins evaluated at approximately $7.538 billion.
Since August 2020, MicroStrategy has consistently bought Bitcoins, a decision made by the CEO at that time (Saylor) to explore innovative methods for increasing the company’s profits utilizing a substantial portion of its available funds as shown in its financial statements.
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2024-09-02 16:49