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Microstrategy’s Michael Saylor Shares Cryptic Message About Bitcoin (BTC) on Germany by U.Today
U.Today – Michael Saylor left a cryptic message, most likely addressed to the German government, as their sell-offs are putting enormous pressure on the market, virtually destroying the momentum of and other assets. The translated message reads: “Everyone gets Bitcoin at the price they deserve.”
The recent operations of the German government’s Bitcoin wallet are relevant to the background of the message. The German government’s wallet receives Bitcoin for the first two consecutive days at the end of business hours. According to some analysts, this is a buyback following a sale.
In reality, however, these unsold Bitcoins are being returned to the German government’s control wallet. It may seem unusual, but such a large institution may not have enough trust in exchanges and prefer self-custody. A total of 3,073 BTC were added back to the wallet yesterday, bringing the temporary balance of the Germans to 27,461 BTC or about $1.57 billion.
Another Bitcoin drop is scheduled for today by the German government. The price of Bitcoin and the overall market sentiment have both been significantly impacted by this massive selling pressure. One interpretation of Saylor’s message could be a commentary on the state of the market and how this institution’s actions affect it. It is also possible that Saylor is mocking the decision to sell such a large amount of BTC on the market in such a brutal manner.
It is becoming difficult for Bitcoin to maintain its momentum due to the sell-offs that the German government is conducting. This activity highlights the power that institutions and major holders have over the cryptocurrency market, which often results in volatility and sharp price swings. Temporary price drops caused by large-scale sell-offs can inspire some people to buy while inciting fear in others.