Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Founder of MicroStrategy, Bitcoin holding giant, and its chairman, Michael Saylor, continues to endorse the world’s pioneer cryptocurrency in his tweets. This time, in his tweet, he emphasized Bitcoin’s strong qualities as a store of value, comparing it to other assets.
Saylor took to his X/Twitter account to say “Bitcoin is for the money you can't afford to lose.”
On the animated chart that came with the tweet, Saylor showed that since the halving that took place in 2016 (the second halving event in Bitcoin’s history) the percentage of original Bitcoin value relative to Bitcoin has been 100%. Therefore, it has been perfect as a store of value, Michael Saylor hinted, compared to its rivals – gold, the S&P 500, U.S. real estate, the U.S. dollar and three other fiat currencies (albeit used in countries with troublesome economies), the Nigerian naira, the Turkish lira and the Argentine peso.
Yuri MolchanMicroStrategy adds more Bitcoin in April
MicroStrategy, led by Bitcoin evangelist Michael Saylor, announced that during the month of April, it had acquired an additional BTC lump of 122 coins. That cost the business intelligence giant approximately $7.8 million as it bought those Bitcoins at the price of $63,934.
The company’s Bitcoin stash currently constitutes 214,400 BTC evaluated at a staggering $5.68 billion.
Over the past month, the world’s largest cryptocurrency has seen a massive price reduction as it dropped from above the $72,450 level to the current $58,150 price tag.
Over the past 24 hours, Bitcoin lost roughly 10% after Binance's CZ was sentenced to four months in prison, “Bitcoin Jesus” Roger Ver was arrested for tax evasion in Spain, Hong Kong Bitcoin-Ethereum ETFs failed to meet traders’ expectations on the first trading day and a few other important factors.
Vladislav Sopov
Tomiwabold Olajide
Dan Burgin
U.Today Editorial Team