Michael Saylor Makes Epic Bitcoin Call Amid Market Lull: Details By U.Today

From Investing.com: 2024-06-16 13:30:38

Michael Saylor, MicroStrategy’s chairman, urges the crypto community to “learn to think in Bitcoin” amid a stagnant market. Bitcoin hits a month low of $65,005 before rebounding to $66,571, up 0.40% on the day. MicroStrategy holds around $12.7 billion in Bitcoin, with the largest cryptocurrency up 600% since Saylor’s purchases.

Bitcoin’s value has risen 60% this year, partly due to optimism surrounding U.S. Bitcoin spot ETFs. MicroStrategy’s stock has surged 135% over the same period. The firm recently increased its convertible notes offering by 40% to $700 million to acquire more Bitcoin.

Saylor’s message may encourage long-term thinking in a volatile market. It also signifies a shift towards embracing cryptocurrencies as the future of finance.

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