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MicroStrategy's Michael Saylor Makes Bitcoin 'Satoshi' Statement: Details

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Sun, 9/06/2024 - 14:58
MicroStrategy's Michael Saylor Makes Bitcoin 'Satoshi' Statement: Details
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Michael Saylor, the chairman of MicroStrategy and a prominent advocate for Bitcoin, recently made a compelling statement about the pseudonymous creator of Bitcoin, Satoshi Nakamoto.

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In a tweet, Saylor invoked the spirit of Satoshi, declaring that "Satoshi started a fire in cyberspace."

Speaking metaphorically, Saylor describes Satoshi's creation of Bitcoin as starting a "fire in cyberspace," highlighting the revolutionary impact of this digital asset on the world.

Satoshi Nakamoto, whose true identity remains a mystery, released the Bitcoin whitepaper in 2008 and mined the first block of the Bitcoin blockchain in 2009.

Satoshi's vision was to create a decentralized, peer-to-peer electronic cash system that operates independently of central authorities. This vision has since evolved into a global phenomenon, with Bitcoin leading the charge in the cryptocurrency revolution.

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The "fire" Saylor refers to might mean the spark of innovation that has ignited a global movement toward decentralized finance. Satoshi's Bitcoin creation has undoubtedly ignited a transformative force in the digital world, reshaping how we think about money, value and decentralization.

Bitcoin price action

Bitcoin climbed in the past week to within 2.5% of the all-time high of $73,798 set in mid-March fueled by rising demand for exchange-traded funds (ETFs). At the time of writing, Bitcoin traded at $69,711, up almost 161% yearly.

This year's boom accelerated after the Securities and Exchange Commission allowed ETFs that invest directly in Bitcoin in January. In May, the regulator took a step toward authorizing comparable spot Ethereum ETFs.

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As Bitcoin weighs its next price move, Ali, a crypto analyst, noted that it is anchored in a strong support zone between $69,380 and $67,350. This is where 1.97 million addresses acquired 964,000 BTC, and holding this level might be crucial for BTC to sustain its upward momentum.

In a bullish undertone, Ali reported that approximately 22,647 BTC, worth over $1.57 billion, were recently withdrawn from crypto exchanges.

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