As a seasoned crypto investor with over two decades of experience in the tech and finance industries, I find Michael Saylor’s unwavering conviction in Bitcoin (BTC) both inspiring and validating. Having witnessed the dot-com bubble burst and the financial crisis of 2008, I can appreciate the value he sees in a digital asset like BTC as a hedge against inflation and traditional investment assets.
Showcasing his confidence in the potential growth of the leading digital currency, Bitcoin (BTC), MicroStrategy’s co-founder and chairman, Michael Saylor, has revealed that he personally holds approximately one billion dollars worth of it.
Saylor’s Bitcoin Vision Unshaken
More recently, Saylor shared with Bloomberg Television that he’s been gradually amassing Bitcoin for some time now, with no immediate intention of offloading his investments.
“Saylor asserted that he keeps on gaining more of this particular asset. He considers it an excellent choice for individuals, families, corporations, and even nations as an investment capital. To him, there’s no better place to put one’s funds.”
Saylor personally owns some Bitcoin (BTC) alongside the approximately 226,000 BTC that MicroStrategy, the company he founded and served as CEO before becoming the executive chairman, holds.
In the year 2020, MicroStrategy started accumulating Bitcoin as a safeguard against inflation and has since then become the most significant publicly-traded corporation in terms of Bitcoin ownership. At present, the value of its Bitcoin assets is approximately $13 billion.
Regardless of the recent ups and downs and decreases in the crypto market, Saylor maintains his strong belief in Bitcoin’s future worth. He considers Bitcoin a better form of long-term value storage and investment than conventional choices such as cash, bonds, or gold.
‘Death Cross’ Analysis & Short-Term Sell Signals
On a dismal Monday for the broader stock market, financial analyst Timothy Peterson highlighted in a social media message that Bitcoin experienced what’s known as a “death cross,” which happens when the 50-day moving average surpasses the 200-day moving average. Remarkably, Peterson points out that this unusual occurrence has transpired merely eight times since the year 2015.
According to Peterson’s analysis of historical data, Bitcoin tended to have a favorable result around 62% of the time after past ‘death cross’ occurrences. Importantly, it was during bear market years like 2014, 2019, and 2022 that noticeable decreases were observed.
Despite his reservations, Peterson remains uncertain about another economic slump, considering it unlikely that Bitcoin will drop below $40,000 by December’s end. On the contrary, he anticipates a significant rise, possibly exceeding $90,000, as he sees similarities with previous bullish market trends and patterns.
Despite these optimistic projections, the short-term outlook for Bitcoin faced a dose of caution from crypto analyst Ali Martinez. On Tuesday, Martinez raised concerns as the TD Sequential indicator signaled a sell order on Bitcoin’s 4-hour chart.
Based on an indicator that signals possible end points for price trends, it suggested a forthcoming adjustment when Bitcoin’s value climbed over $57,000 on Tuesday. As predicted by the analyst, Bitcoin experienced a decline of nearly 3% within the past day, dropping to a daily low of $54,700.
Read More
- CORE PREDICTION. CORE cryptocurrency
- Top gainers and losers
- SYS PREDICTION. SYS cryptocurrency
- KUNCI PREDICTION. KUNCI cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- CFG PREDICTION. CFG cryptocurrency
- Best coins for today
- DOGE PREDICTION. DOGE cryptocurrency
- THOR PREDICTION. THOR cryptocurrency
- STFX PREDICTION. STFX cryptocurrency
2024-08-08 03:40