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Michael Saylor Reveals Crucial Statement on Bitcoin as Price Recovers
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As of today, Sunday afternoon, the price of Bitcoin (BTC) is trading in slightly negative territory, quoting $63,700. However, over the past week, we can say that the price of the main cryptocurrency has grown by almost 1%.
Learn more about BTC price From the chart we can see that from the weekly lows of $56,552 to the highs of $64,734, Bitcoin rose by 14.3%. This is a pretty solid result for an asset whose capitalization exceeds $1.25 trillion.
In the midst of these market movements, Michael Saylor, a prominent cryptocurrency advocate, released a significant statement titled “Bitcoin Emerges.” The statement, characteristic of Saylor’s continued support for the cryptocurrency, signals a notable moment in Bitcoin’s ongoing narrative.
MicroStrategy macro steps
In addition to Saylor’s announcement, MicroStrategy, the company he leads, introduced a new development known as MicroStrategy Orange earlier this week. This open-source decentralized identity protocol uses Bitcoin’s Segregated Witness capabilities, allowing for the efficient storage of DID-related data with minimal restrictions on size and content.
“As other crypto assets fail…, those crypto users will move to another crypto network: Bitcoin. Bitcoin will exist for the long term. It will be around long after other brands fail.”
–@saylor #Bitcoin #BitcoinforCorporations— MicroStrategy (@MicroStrategy) May 2, 2024
As for MicroStrategy Bitcoin holdings, the company revealed impressive numbers in its latest earnings report. With 214,400 BTC worth over $7.5 billion, the company continues to assert its position as one of the largest BTC holders.
Notably, the company increased its holdings by acquiring another 122 BTC for $7.8 million in April, further strengthening its cryptocurrency reserves. Despite a 5% year-over-year decline in revenue to $115 million, MicroStrategy remains focused on its Bitcoin-centric approach.