Bitcoin (BTC) Evangelist Michael Saylor Discloses He Owns Around $1B Worth of the Cryptocurrency

In a bold display of faith in the future of the largest cryptocurrency on the market, Bitcoin (BTC), MicroStrategy co-founder and executive chairman Michael Saylor has disclosed that he owns around $1 billion.

MicroStrategy co-founder and former CEO Michael Saylor has revealed that he personally owns around $1 billion in Bitcoin (BTC).

In an interview with Bloomberg Television on Monday, Saylor disclosed that he has been steadily accumulating BTC over the past several years and has no plans to sell any of his holdings soon.

“I continue to acquire more,” Saylor stated. “I think it’s a great capital investment asset for an individual, family, institutional corporation or country. I can’t see a better place to put my money.”

Saylor’s personal BTC stash is in addition to the over 226,000 BTC held by MicroStrategy, the enterprise software firm he co-founded and led as CEO until recently transitioning to the executive chairman role.

Saylor personally owns around $1 billion in Bitcoin (BTC).

MicroStrategy began amassing Bitcoin in 2020 to hedge against inflation and has since emerged as the largest publicly traded corporate holder of the cryptocurrency. The company’s Bitcoin holdings are currently valued at around $13 billion.

Despite the recent volatility and price declines in the cryptocurrency market, Saylor remains unwavering in his conviction about Bitcoin’s long-term potential. He views it as a superior store of value and investment asset compared to traditional options like cash, bonds, or even gold.

“Bitcoin is the best performing asset class over the last decade and I think it will continue to surprise people with its resilience and ability to generate capital gains,” Saylor added.

Bitcoin Death Cross

Meanwhile, market expert Timothy Peterson has pointed out that Bitcoin has formed a “death cross” on the daily chart, where the 50-day average (orange) has crossed above the 200-day average (blue). This rare event has only occurred eight times since 2015.

According to Peterson’s analysis, Bitcoin experienced a positive outcome approximately 62% of the time following previous ‘death cross’ instances. However, during bear market years like 2014, 2019, and 2022, the occurrence was followed by a decline.

“Death cross during bear market years (e.g., 2014, 2019, 2022) saw Bitcoin drop below $40,000 by year-end. However, given Bitcoin’s recent resilience at the $50,000 support level, such a steep drop seems unlikely this time around,” Peterson said.

“Instead, we could potentially see Bitcoin rally to over $90,000 by the year’s close if past bull trends following similar patterns hold true.”

Bitcoin 4-Hour TD Sell Signal

On the other hand, crypto analyst Ali Martinez has warned of a sell order on Bitcoin’s 4-hour chart as the TD Sequential indicator presents a sell signal.

This indicator, which attempts to identify potential trend exhaustion points, usually signals a 1 to 4 candlestick setup before a sell order. The sell order is triggered on the close of the fourth candle after the TD Sequential “9” candle.

Martinez observed this sell order as Bitcoin’s price surged above $57,000 on Tuesday. The analyst’s warning proved prescient as Bitcoin underwent a retracement of nearly 3% within the last 24 hours, hitting a daily low of $54,700.

The above is the detailed content of Bitcoin (BTC) Evangelist Michael Saylor Discloses He Owns Around $1B Worth of the Cryptocurrency. For more information, please follow other related articles on the PHP Chinese website!