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Michael Saylor, a vocal Bitcoin maximalist and founder of Strategy, has taken to his account on social media platform X to address his millions of followers on BTC as it has been striving to retake the $80,000 level.
Saylor has once again likened the global flagship cryptocurrency to a digital form of gold.
Alex DovbnyaSaylor reaffirms his bullish stance amid market turbulence
Saylor’s tweet speaks of Bitcoin as of “digital gold,” accompanied, as usual with an image of Saylor generated by AI software. In it, he is sitting on a stack of gold bullions with a Bitcoin logo on them in front of what seems to be the entrance to “Bitcoin Fort Knox” — the U.S. Strategic Bitcoin Reserve that President Trump ordered created this year.
However, the pro-crypto U.S. president’s recent macroeconomic policy has pushed Bitcoin, as well as the stock market, down into a sea of red. Last week, in just two days, more than $5 trillion were wiped out of the stock market as major indexes crashed after Trump announced a new set of trade tariffs, this time targeting all countries around the world, except Russia and Belarus.
Trump threatened to impose an additional 50% tariff on Chinese goods if China fails to remove the tariff on U.S.-made goods by today. But China plans to fight until the end. Bitcoin, which managed to stay above $80,000, broke over the weekend, nosediving to $74,700 but then recovering by roughly 8%. Currently, Bitcoin is making one attempt after another to retake the $80,000 level, which represents a crucial level of psychological support.
Yuri MolchanStrategy might be forced to sell Bitcoin
According to a filing submitted by Michael Saylor’s company, Strategy, to the Securities and Exchange Commission (SEC), a condition may arise in which it may have to sell part of its enormous Bitcoin stash accumulated over the past four and a half years.
Strategy must fulfill its financial obligations to investors from whom the company raised funds to accumulate Bitcoin by offering them stocks to buy. However, should Strategy fail to have sufficient funds on its balance sheet to make the necessary payouts, according to the SEC filing, it may have to sell Bitcoin to fulfill its obligations in the end. So far, Strategy has not been forced to do that and is currently holding more than 500,000 BTC.
Vladislav Sopov
Dan Burgin