Michael Saylor backs Bitcoin, reveals recent purchases and losses, showing confidence in cryptocurrency's future.

From Investing.com

January 15, 2025 07:30 AM:

MicroStrategy’s Michael Saylor claims Bitcoin is worth all money, backing it with purchases. Recent acquisition of 2,530 BTC at $95,972 each shows modest profit. Company’s history of Bitcoin buys includes losses like $48 million from 5,252 BTC. Saylor’s faith in Bitcoin’s long-term value remains strong despite market fluctuations.

MicroStrategy, a major institutional Bitcoin holder, consistently accumulates the cryptocurrency. Saylor’s confidence in Bitcoin’s future is unwavering despite past volatility. Bitcoin currently trades near $97,000 with solid support at $88,000. A bullish trend is possible if it stays above the 50 EMA, but resistance at $100,000 may hinder an upward breakout.

MicroStrategy’s buying strategy and Saylor’s unwavering support underline institutional faith in Bitcoin’s potential. Despite short-term volatility, their actions demonstrate a belief in Bitcoin as a long-term store of value. The company’s clear stance is to heavily invest in Bitcoin, with the future results of this strategy still unknown.

Read more at Investing.com: Michael Saylor Reveals How Much Bitcoin Is Worth By U.Today