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Michael Saylor Releases Important ‘Bitcoin Independence’ Message: Details
Yuri Molchan
Michael Saylor addressed the US Bitcoin community with the message of “Bitcoin Independence”
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Renowned Bitcoin supporter and founder of crypto giant MicroStrategy Michael Saylor posted one of his daily tweets about BTC. This time, he addressed the Bitcoin community with a message of “BTC independence”.
Saylor’s tweet caught the attention of Bitcoiners, who discussed the current sharp correction in the price of Bitcoin, which has intensified this week as the sell-off continues.
Saylor Talks About “Bitcoin Independence”
Michael Saylor tweeted to the US Bitcoin community to congratulate them on the occasion of the United States Independence Day, July 4th. The tweet also appears to hint at the potential financial independence that the world’s leading digital currency could bring in the future.
The tweet contains an image of an American flag and a Bitcoin symbol painted on it. Despite the massive Bitcoin sell-off that is taking place this week, MicroStrategy Executive Chairman Saylor remains optimistic as he continues to implement long-term plans for Bitcoin holdings at his company.
MicroStrategy continues to buy BTC quite regularly and in June, as reported by U.Today, the company made another move on the market, Raising 11,931 BTCpaying about $786 million for it. The cryptocurrency was purchased at an average price of $65,883. The hundreds of millions of US dollars used for this massive Bitcoin acquisition came from the proceeds of convertible bonds sold to investors in June and excess cash, according to Saylor.
Bitcoin Market Bearish Performance
Since the start of this week, the largest cryptocurrency BTC has lost nearly 10% of its price, falling from the $63,630 area to $57,300, where it is changing hands at the time of writing. Today’s decline in Bitcoin alone is more than 5% and began with a large red candle on the hourly chart.
According to Bloomberg, the cryptocurrency market is experiencing a massive sell-off as Bitcoin miners and long-term BTC holders sell off their BTC reserves and newly mined coins. data provided by analyst Charles Edwards, founder of the Capriole Investments fund. Edwards said that it is this particular sell-off that continues to push the price of Bitcoin lower.
However, Bitcoiner Samson Mow believes that the cryptocurrency market will absorb all of this staggering Bitcoin sell-off. In today’s tweet, he shared his impression that BTC whales on the Bitfinex exchange are buying up all the Bitcoin that is being sold now.
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 ways. He has written for several media outlets about cryptocurrencies. His articles have been cited by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.