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Michael Saylor breaks silence on Bitcoin falling below $68,000
Yuri Molchan
Michael Saylor, a vocal Bitcoin advocate, reacts as Bitcoin plunges below the $68,000 mark
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Prominent Bitcoin supporter and co-founder of business intelligence giant MicroStrategy Michael Saylor posted a tweet about Bitcoin as if to show confidence in the largest cryptocurrency by market capitalization value as it suddenly lost the $68,000 price level overnight.
Saylor’s tweet contains an AI-generated image featuring a physical Bitcoin and bees, stating: “Bitcoin is a swarm of cyber hornets.”
Some macroeconomic factors influenced this sudden drop in the price of Bitcoin. The personal consumption expenditure (PCE) price index addressed a small increase of 0.25% in Aprilafter a 12-month change of 2.75%, it proved to be a three-year low for this metric.
While this was in line with analysts’ expectations, Bitcoin still fell by 2.14% in three consecutive red candles, from $68,608 to the $67,712 level. A small bounce occurred today, pushing the largest cryptocurrency slightly higher.
As reported by U.Today, the major cryptocurrency exchange based in Japan, DMM Bitcoin, faced a massive hacker attack with more than $300 million in cryptocurrencies taken away from anonymous hackers: 4,502 BTC.
According to data provided by Chainalysis, this was the largest hack of a cryptocurrency trading platform since 2022 and the seventh largest in the history of the cryptocurrency industry.
About the author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and cryptocurrencies since 2017. He believes that blockchain and cryptocurrencies have the potential to transform the world in the future in many aspects of it. He has written for several crypto media. His articles have been cited by cryptocurrency influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keizer, etc.