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Michael Saylor, CEO of software manufacturing giant MicroStrategy and well-known Bitcoin bull, shattered Monday's calm in the crypto space with a new viral post. Entitled "Hodl On," the MicroStrategy chief posted an infographic showing the price performance of various assets such as BTC, MSTR stock and the S&P 500 since the software provider adopted the Bitcoin strategy on Aug. 20.
As you can see, the best performing asset over a four-year period was Microstrategy stock, which Saylor's chart shows has risen 1,325%. The second best asset was the cryptocurrency itself, which guaranteed its holders a 451% return on their investment.
Arman ShirinyanSince the summer of 2020, the price of Bitcoin managed to make it to a new all-time high at $69,000, fell to $15,500 amid the collapse of FTX and made it back to a new high at $74,000.
Meanwhile, the performance of the major U.S. stock market index, the S&P 500, was "only" up 71%. Few people will argue that this is not a lot over the span of four years, but compared to MSTR and BTC, it still does not seem like much.
No worries for Michael Saylor
Saylor's post is not intended to boast but rather to confirm his bullish stance on the major cryptocurrency. Over the course of the last four days, the price of Bitcoin has made it back above $65,000, but the weekend pump ended with a decline back to $63,500.
Alex DovbnyaSuch an action, although not that dramatic in percentage changes, worried traders, who now raise the possibility for BTC to test key levels lower at $62,300 and even lower at $58,000.
If this will be the scenario for Bitcoin in the near future is an open question, but as can be judged from the new post, for Michael Saylor, small time frames do not matter.
Yuri Molchan
Godfrey Benjamin
Dan Burgin
Alex Dovbnya