Michael Saylor Posts Important Message on “Bitcoin Independence”: Details

Youri Molchan

Michael Saylor Addresses US Bitcoin Community With Message About “Bitcoin Independence”

Michael Saylor, a prominent Bitcoin advocate and founder of tech giant MicroStrategy, has posted one of his daily tweets about Bitcoin. This time, he addressed the Bitcoin community with a message about “Bitcoin independence.”

Saylor’s tweet caught the attention of Bitcoiners as they discussed the ongoing sharp correction in Bitcoin’s price that has intensified this week as the sell-off continues.

Saylor Talks ‘Bitcoin Independence’

Michael Saylor has tweeted to the American Bitcoin community to congratulate them on the occasion of the United States’ Independence Day on July 4th. The tweet also appears to hint at the possible financial independence that could be brought about by the world’s leading digital currency in the future.

The tweet contains an image of an American flag and a Bitcoin symbol painted on it. Despite the massive Bitcoin selloff taking place this week, MicroStrategy Executive Chairman Saylor remains optimistic as he continues to implement long-term Bitcoin holding plans at his company.

MicroStrategy continues to buy BTC regularly, and in June, as reported by U.Today, the company made another move into the market, snapping up 11,931 BTC, for a price tag of about $786 million. The cryptocurrency was purchased at an average price of $65,883. The hundreds of millions of US dollars used for this massive Bitcoin acquisition came from the proceeds of convertible bonds sold to investors in June and excess cash, according to Saylor.

Bitcoin Market Bearish Performance

Since the beginning of this week, the largest cryptocurrency, BTC, has lost nearly 10% of its price, falling from $63,630 to $57,300, where it is changing hands at the time of writing. Today’s Bitcoin drop alone is over 5%, and it started with a big red candle on an hourly chart.

There has been a massive sell-off in the cryptocurrency market, with Bitcoin miners dumping their BTC stash and freshly mined coins, as well as long-term BTC holders, according to data provided by analyst Charles Edwards, founder of Capriole Investments. Edwards said it is these sell-offs in particular that continue to drive Bitcoin’s price down.

However, Bitcoiner Samson Mow believes that the cryptocurrency market will absorb all of these astronomical Bitcoin sales. In today’s tweet, he shared the impression that BTC whales on the Bitfinex exchange are buying up all of the Bitcoin that is currently being sold.

About the Author

Youri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. He believes that blockchain and cryptocurrencies have the potential to transform the world in many areas in the future. He has written for many crypto media outlets. His articles have been cited by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.