In the face of selling pressure in the crypto market, Michael Saylor, Chairman of MicroStrategy, delivers a resolute message regarding BTC: it’s time to invest in the future of Bitcoin.
The cryptocurrency market is currently experiencing a significant downturn, with Bitcoin and other major digital assets witnessing notable price declines. This downturn, dubbed a “crypto bloodbath,” has rattled investor confidence and sparked discussions about the sustainability of the recent bull market.
In this scenario, Bitcoin’s value has dropped to $65,000, a stark contrast to its previous all-time highs surpassing $73,000.
Saylor, a staunch supporter of Bitcoin for an extended period, has released a statement that resonates with many within the crypto community, expressing his optimism about Bitcoin’s long-term potential despite the current market volatility.
“Bet on the future. #BTC,” Saylor stated in a recent post.
Saylor’s remarks arrive at a crucial juncture, as Bitcoin’s price has plummeted by up to 8% in the last 24 hours.
Bitcoin briefly hit an intraday low of $64,980, marking its first dip below this level since March 24, before rebounding somewhat. At present, BTC has decreased by 6.63% in the past 24 hours, trading at $65,116.
Meanwhile, the forthcoming Bitcoin halving event slated for April 2024, which will halve Bitcoin mining rewards from 6.25 BTC to 3.125 BTC, is expected to reduce the supply of new Bitcoins, potentially driving up demand.
Bitcoin is now less than 20 days away from its fourth halving event. According to OkLink, the current countdown stands at 18 days, with an anticipated date of April 20. The remaining blocks until this event are 2602.
Under Saylor’s guidance, MicroStrategy has emerged as a significant player in the Bitcoin industry, possessing a substantial quantity of the cryptocurrency. Despite market fluctuations, Saylor’s unwavering belief in Bitcoin remains remarkable.
