Michael Saylor Tweets ‘Bitcoin to the Moon’ as BTC Stays Close to $65,000

Major Bitcoin advocate and MicroStrategy co-founder, Michael Saylor, recently made a bullish statement on Bitcoin’s price on social media. Saylor, with a substantial following, posted an image featuring a space suit with a Bitcoin logo on the helmet, captioned “#Bitcoin to the Moon.” This move comes as Bitcoin attempts to surpass the $65,000 price mark, a level it recently regained and then lost.

Saylor has been a vocal supporter and investor in Bitcoin for an extended period. Since August 2020, his company, MicroStrategy, has been consistently acquiring Bitcoin, with the firm currently holding a significant 226,331 Bitcoins valued at approximately $7.538 billion. Notably, this year, MicroStrategy issued convertible senior notes to investors in March and June, aiming to raise $700 million to acquire more Bitcoin.

In a recent development, Saylor shared a Fox Business video praising Bitcoin as the “number 1 performing asset.” This positive sentiment from Saylor aligns with his continuous promotion of Bitcoin through various media channels, reinforcing his confidence in the digital asset.

Bitcoin’s current price action sees it striving to reclaim the $66,000 level after briefly surpassing it. A 5.11% growth in the past 24 hours propelled Bitcoin to this level, but a subsequent 1.54% decline pushed it back to around $64,900. This price level was last observed about a month ago on June 20 before a series of significant sell-offs and movements drove the price lower.

Recent events, including the German government selling approximately 50,000 Bitcoins worth over $3 billion and Mt. Gox facilitating compensation payments to creditors through Bitcoin and Bitcoin Cash transfers, have influenced Bitcoin’s price movements. Mt. Gox’s actions, in particular, involved transferring significant amounts of Bitcoin to exchanges as part of the process to compensate creditors affected by a major hack in 2014.

The cryptocurrency market continues to be dynamic, with Bitcoin’s price fluctuations reflecting a combination of investor sentiment, market dynamics, and external factors influencing the broader financial landscape. As Bitcoin enthusiasts like Michael Saylor maintain their optimistic outlook on the digital asset, the industry remains poised for further developments and advancements in the evolving crypto space.