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American businessman and MicroStrategy CEO Michael Saylor, known for his radically bullish stance on major cryptocurrency Bitcoin (BTC), has unleashed an epic new post on his social media accounts. It should be noted that Saylor regularly shakes up the information field with his viral, unconventional statements on Bitcoin, often accompanied by some nonstandard image.
The most recent period was no exception, when the cryptocurrency market was under fire due to unsatisfactory macroeconomic data. The businessman literally portrayed himself as a firefighter in uniform, with the BTC logo putting out the fire. This epic work of artificial intelligence was a companies by a "Bitcoin to the rescue" caption.
Gamza KhanzadaevBitcoin vs. recession?
It is still worth understanding which fire Michael Saylor is putting out - the one that wiped $24 billion off the crypto market's capitalization in a matter of hours, or the one currently burning up the U.S. economy. But they are all pieces of the same puzzle, with inflation rising faster than expected despite the Fed's recent 50 bps rate cut.
However, what is happening in the economy, which is clearly in recession, is not necessarily the same as what market participants are seeing, and they seem to be expecting monetary easing to continue.
In that case, you could say that Saylor is picking the right side, promoting Bitcoin as a safe haven in a time of market conflagration. However, there is little doubt that the businessman would have chosen BTC in any other situation as well.
Godfrey Benjamin
Dan Burgin
Vladislav Sopov
U.Today Editorial Team