Markets
Michael Saylor Makes Epic Bitcoin Call Amid Market Lull: Details by U.Today
U.Today – Michael Saylor, president and co-founder of MicroStrategy, made an epic call to the crypto community: “Learn to think in.” Saylor’s post comes at a time when the crypto market is experiencing a lull, with Bitcoin and many major assets showing little to no movement.
Bitcoin fell to its lowest price in nearly a month on Friday, hitting a low of $65,005 before rebounding slightly. Bitcoin price currently stands at $66,571, according to CoinMarketCap data, up 0.40% on the day, while current market performance remains mixed, with a handful of cryptocurrencies posting losses over a 24 hour period.
With the market relatively calm, some, including Saylor, see it as a time for introspection and strategic thinking, hence the call to “learn to think in Bitcoin”.
Saylor began buying Bitcoin in 2020 as a hedge against inflation and an alternative to holding cash. Saylor’s company, MicroStrategy, has amassed approximately $12.7 billion in Bitcoin, or more than 1% of all Bitcoin ever created. The largest cryptocurrency by market cap is up more than 600% since Saylor started buying it.
Bitcoin is up about 60% this year, driven in part by optimism over U.S. Bitcoin spot ETFs approved in January. MicroStrategy stock has gained about 135% over the same period.
MicroStrategy increased its offering of convertible notes by 40% to $700 million last week, announcing plans to use the funds to buy more Bitcoin.
While the context of Saylor’s tweet remains open to interpretation, the call to “learn to think in Bitcoin” could be a reminder to take a broader view, beyond short-term market volatility.
On the other hand, Saylor’s message could be a call to embrace the financial paradigm introduced by cryptocurrencies, heralding a fundamental shift in the way value and wealth are perceived.