News
Michael Saylor Issues “Indiana Jones Warning” on Bitcoin (BTC)
Yuri Molchan
Popular Bitcoin supporter’s tweet ignites the cryptocurrency community
Continue reading U.TODAY
Google News
Founder and president of business intelligence giant MicroStrategy Michael Saylor has issued a new tweet about Bitcoin, which contains a warning to those looking for investment instruments other than BTC.
Saylor is a vocal Bitcoin advocate who has supported MicroStrategy’s idea to implement regular BTC purchases for the past four years. He now promotes the world’s most important cryptocurrency on the X platform on a daily basis.
Saylor Issues ‘Indiana Jones Warning’ to Cryptocurrency Investors
On Friday, Saylor issued a warning, similar to the one uttered by the knight who guarded the Holy Grail in the classic film “Indiana Jones and the Last Crusade”: “Choose wisely.”
Being a Bitcoin maximalist, Saylor implies that he believes BTC is the only cryptocurrency on the market. Unlike Max Keizer, he does not openly (and not so frequently) criticize altcoins and does not use the word “s-coin” when he talks about them. However, in a recent public statement, Saylor openly stated that he believes that XRP, SOL, ADA, ETH and other altcoins are unregistered securities, thus agreeing with the SEC’s position.
Saylor said he expects all altcoins to become officially labeled as stocks soon, and then only those holding Bitcoin will win. BTC is so far the only cryptocurrency that has been classified as a commodity by the SEC and CFTC. Ethereum also has this status, however recently it appears to have been called into question by SEC leader Gary Gensler. The latter has recently started a real witch hunt on altcoins and US cryptocurrency exchanges to trade them.
Bitcoin drops 5%
In the last 24 hours, the flagship cryptocurrency has lost almost 5% of its market price, falling from the $63,284 level to the $60,300 zone in a huge red candle on an hourly chart under the pressure of a descending triangle pattern forming on the chart.
At this point, the price has seen a marginal rebound of over 1% and BTC is changing hands near the $60,920 level.
Renowned cryptocurrency analyst and trader Michael van de Poppe tweeted yesterday that he expects Bitcoin to follow a scenario that could occur BTC at a low of $55,000-$52,000. This is likely to happen, he specified, if Bitcoin loses the range in which it is currently trading: $61,000-60,000.
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 Keiser, etc.