One of the strong proponents of Bitcoin and fan of the crypto industry, Michael Saylor tweeted earlier yesterday on the popularity of Bitcoin. He asked his follower if they know anyone at all that is ignorant of Bitcoin.
Michael Saylor is the CEO of MicroStrategy, the company that has a strong love for Bitcoin and at the moment they are the biggest holder of Bitcoin in the world.
Bitcoin is over a decade now, when the coin came it was very unknown to many and the few people that were able to venture are now multimillionaires. Although the general crypto market condition is not appalling at the moment that will never reduce the popularity of some of the crypto, especially Bitcoin.
According to one of the comments on Saylor’s tweet, “Bitcoin is the most important discovery history and proof-of-work is what protects it”
One of the comments was also describing Bitcoin in two forms;
- Sored value: which implies the total amount is constant that is 1 BTC=1 BTC, which means there is no inflation.
- Freedom: this implies that without a private key, no one can use your wealth and it will not be frozen.
One of the possible reasons, why Michael Saylor tweeted in this way, might be because of a long-term dip in the crypto industry which has affected Bitcoin and every other crypto. Presently Bitcoin is in a dip from its ATH and this is not new to the community.
As stated by the Ethereum CEO, good time in the crypto can not continue like that without a tiny period of challenges in the industry. Buterin said “Crypto has had ups before, and it has had downs before, and it will have ups and downs again,” he also added that “The down periods are certainly challenging, though they are also often the periods where the most meaningful projects get nurtured and built.”
More also, a few days ago, El-Salvador and the MicroStrategy CEO, acquired a massive amount of Bitcoin when the coin was down from $20k to $19K. That purchase made the CEO of MicroStrategy the largest holder of Bitcoin.
Bitcoin Price Reaction At The Moment
The top cryptocurrency has soared 9.76% over the last 24 hours. It is now poised to record its third straight day in the green. Major altcoins surged in tandem with Bitcoin, with the total crypto market cap reclaiming the $1 trillion level. With what is happening to Bitcoin, could have triggered the statement of MicroStrategy.