2024

Bitcoin

Epic

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p dir="ltr">The past two days have seen the crypto market rebound from earlier volatility, with Bitcoin rising by over 3% to $57,000. Amid this surge, MicroStrategy’s chairman and co-founder&nbsp;<a href="https://u.today/michael-saylor-issues-bitcoin-statement-amid-1-billion-market-crash" rel="noopener noreferrer nofollow">Michael Saylor</a> has sent out an epic <a href="https://x.com/saylor/status/1821157444602458149" rel="noopener noreferrer nofollow">comment</a> on Bitcoin.</p>
<h2 id="bitcoin-as-corporate-solution">Bitcoin as corporate solution</h2>
<p dir="ltr">Notably, Saylor’s comments are in response to a post from Lyn Alden, founder of Lyn Alden Investment Strategy. Alden’s post highlighted her recently published article titled, “A New Look at Corporate Treasury Strategy.”</p>
<p dir="ltr">The article delves into the logic behind companies acquiring Bitcoin and the reasons why some firms have historically tended to decapitalize themselves. In the article, Alden also talked about the dominance of the Bitcoin network, liquidity and institutional interest.</p>
<p dir="ltr">Commenting on Alden’s article, Saylor&nbsp;stated, “Bitcoin will fix your corporate balance sheet.” Saylor's statement generated discussion in the online community, with many agreeing with what he said. “The best collateral layer you can hope for. It will transform treasury management,”&nbsp;says X user @McDonaghMatthew.</p>
<blockquote>
 <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> will fix your corporate balance sheet. <a href="https://t.co/0owo3y2bYh" rel="noopener noreferrer nofollow">https://t.co/0owo3y2bYh</a></p>— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1821157444602458149?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 7, 2024</a>
</blockquote>
<p dir="ltr">Meanwhile, Saylor’s comment comes only days after a recent Bitcoin purchase by MicroStrategy. According to&nbsp;<a href="https://u.today/microstrategys-bitcoin-holdings-keep-surging" rel="noopener noreferrer nofollow">reports</a>, MicroStrategy remains the largest corporate holder of Bitcoin with 226,500 BTC valued at approximately $12.9 billion at the current market price. Renowned Bitcoin mining company Marathon Digital comes in a very distant second place with $1.29 billion worth of Bitcoin.</p>
<p dir="ltr">In an earlier&nbsp;<a href="https://u.today/michael-saylor-makes-crucial-bitcoin-strategy-statement-as-btc-reclaims-65000" rel="noopener noreferrer nofollow">report</a>, Saylor says Bitcoin helps his company outperform competitors. To back his statement, Saylor released a diagram that illustrates the advantages of Bitcoin over other assets. The diagram also highlighted MicroStrategy’s performance over other leading global technology companies like Microsoft and Amazon.</p>
<h2 id="bitcoin-s-move-to-57k">Bitcoin's move to $57K</h2>
<p dir="ltr">Bitcoin has quickly regained its balance at the $57,000 price range after experiencing short-term market volatility. At press time, BTC is trading at $57,142, representing a 4% increase in the past day. However, the trading volume declined by 37% to $41 billion.</p>

Michael Saylor Shares Epic Bitcoin Comment as Price Reclaims $57,000

Table of Contents

U_Today

Other articles published on Aug 7, 2024

Is the Fed Concerned About Market Unwind?

Bitcoin ETFs Suffer $168 Million Hemorrhage Amid Market Mayhem

$2 Billion Ethereum In Move: Are Chinese Seized Assets About to Crash the Market?

TON Gaming Head Discusses Hamster Kombat and Future Trends

Stop The Rot, Can’t Stop The Rot: PEPE and DOGE Down Hundreds Of Millions In Value But Rollblock ...

Bitkub Chain Sets New Record with Minute-Long Project Integrations, Revolutionizing Global Tech

Join our free newsletter for daily crypto updates!