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Michael Saylor Gives Bitcoin (BTC) Insight as Price Surpasses $67,000

The recent surge in Bitcoin (BTC) has lifted its price above $67,000, marking a significant rebound from the recent lows below $60,000. This positive market trend has seemingly inspired MicroStrategy’s founder Michael Saylor to maintain his optimistic view on the cryptocurrency.

Saylor Encourages Investment in Bitcoin

Using the X app, Saylor posted an image featuring two black dice with a prominent Bitcoin logo on each die.

Accompanying the picture was a caption that simply stated, “Bet on Bitcoin.” Over the past four years, Saylor has spearheaded MicroStrategy’s substantial accumulation of Bitcoin, showing unwavering confidence in the coin regardless of price fluctuations. The company’s adoption of a Bitcoin-focused strategy has proven to be highly lucrative, considering the current Bitcoin price compared to their initial purchases.

With his recent social media post, Saylor may be urging investors to consider allocating their funds towards Bitcoin or even adopt a similar approach to MicroStrategy.

Saylor’s strong belief in Bitcoin is evident in the significant amount of BTC that MicroStrategy currently holds. Following a purchase of 122 Bitcoin for $7.8 million in April, Ailtra reported that the company’s total Bitcoin holdings now stand at 214,000 Bitcoin. Despite this substantial holding, the firm has not indicated any plans to divest their Bitcoin assets.

MicroStrategy Founder Advocates Bitcoin Dominance Over Altcoins

Saylor recently escalated his advocacy for Bitcoin by labeling Ethereum as a security, aligning with Gary Gensler’s classification of the crypto asset.

During a speech at the MicroStrategy World 2024 conference on May 2nd, Saylor indirectly emphasized Bitcoin’s dominance by criticizing the potential approval of a spot Ethereum ETF by the United States Securities and Exchange Commission (SEC).

He further forewarned that other lower-tier crypto assets such as SOL, XRP, and ADA might also be deemed unregistered securities in the future. While this assertion sparked backlash from various industry experts and observers, renowned trader Peter Brandt expressed his support for Saylor’s stance.

Brandt boldly declared, “This is a one horse race,” subtly referencing a previous video in which Saylor had highlighted Bitcoin’s superiority over other cryptocurrencies.

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