Learn to Think About Bitcoin”: An Urgent Call from MicroStrategy’s Chairman Amidst Crypto Market Lull
Michael Saylor, Chairman and co-founder of MicroStrategy, has issued an urgent call to the cryptocurrency community: “Learn to Think About Bitcoin.” This message arrives during a period of stagnation in the crypto market, with Bitcoin and several major assets exhibiting little to no movement.
On Friday, Bitcoin’s price hit its lowest level in nearly a month, dipping to $65,005 before a slight recovery. Currently, Bitcoin is priced at $66,571, up 0.40% for the day, while the overall market performance remains mixed, with only a few cryptocurrencies showing losses over the past 24 hours.
As the market remains relatively calm, some, including Saylor, view this as an opportune moment for reflection and strategic thinking, hence the call to “Learn to Think About Bitcoin.”
Saylor began purchasing Bitcoin in 2020 as a hedge against inflation and an alternative to holding cash. MicroStrategy, under Saylor’s leadership, has amassed approximately $12.7 billion worth of Bitcoin, accounting for over 1% of all Bitcoin ever created. Since Saylor started buying, Bitcoin’s market value has surged by over 600%.
Bitcoin has risen nearly 60% this year, partly driven by optimism over the approval of U.S. Bitcoin ETFs in January. In parallel, MicroStrategy’s stock has gained about 135% over the same period. Last week, MicroStrategy announced a 40% increase in its convertible notes offering to $700 million, with plans to use the funds to acquire more Bitcoin.
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While Saylor’s tweet is open to interpretation, the call to “Learn to Think About Bitcoin” may serve as a reminder to consider the bigger picture beyond short-term market fluctuations. Alternatively, Saylor’s message might be an invitation to embrace the financial paradigm introduced by cryptocurrencies, heralding a fundamental shift in how value and wealth are perceived.
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