search
Homeweb3.0Michael Saylor Makes a Statement Alluding to Bitcoin That Resonates With the Crypto Community

Bitcoin Infinity Day being celebrated today holds special significance for Bitcoin enthusiasts and serves as a reminder of the finite supply of Bitcoin.

Michael Saylor Makes a Statement Alluding to Bitcoin That Resonates With the Crypto Community

Michael Saylor, cofounder and chairman of business intelligence firm MicroStrategy, is known for his bullish statements on Bitcoin. On Aug. 21, which is also known as Bitcoin Infinity Day, Saylor made a brief statement on the matter.

"Imagine everything, divided by 21 million," Saylor tweeted, along with a GIF image in commemoration of the day.

Bitcoin Infinity Day is celebrated on Aug. 21 each year to commemorate the finite supply of Bitcoin. The date Aug. 21 can be written as 8/21. The number "8" represents the infinity symbol (∞), while "21" refers to the maximum supply of Bitcoin that will ever exist, which is set at 21 million.

Saylor's statement is a reference to one of the most fundamental aspects of Bitcoin: its fixed supply. Unlike typical fiat currencies, Bitcoin's total supply is limited to 21 million coins. This scarcity remains a key component of Bitcoin's value proposition.

Bitcoin derivatives signal BTC price reversal

There is an increasing possibility of a "short squeeze" on the Bitcoin derivatives market, which might lead to a major rally for BTC, K33 Research noted.

The funding rate for Bitcoin perpetual futures, which estimates how bullish or bearish speculators are, might signal a bullish reversal for the BTC price.

According to K33, Aug. 20 had the lowest seven-day average annualized funding rate since March 2023. The funding rate has been mostly negative throughout 2023, indicating a bearish bias.

However, the recent low funding rates could suggest that speculators are now turning bullish on BTC, anticipating further gains in the second half of August.

The cryptocurrency market has been in a cautious mood lately, with Bitcoin continuing to lose ground in August following its inability to stay above the $60,000 mark.

Concerns that the U.S. government might be selling seized tokens have recently impacted Bitcoin's price. Traders are also anticipating crucial comments by Federal Reserve Chair Jerome Powell, whose indications about likely interest-rate decreases might cause volatility.

At the time of writing, BTC was down 2.03% in the last 24 hours to $59,492, about $14,250 below its March all-time high.

The above is the detailed content of Michael Saylor Makes a Statement Alluding to Bitcoin That Resonates With the Crypto Community. For more information, please follow other related articles on the PHP Chinese website!

Statement
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn
Is Wall Street Quietly Backing Solana? $42 Million Bet Says YesIs Wall Street Quietly Backing Solana? $42 Million Bet Says YesApr 10, 2025 pm 12:43 PM

A group of former Kraken executives acquired U.S.-listed company Janover, which secured $42 million in venture capital funding to begin building a Solana (SOL) treasury.

Kevin O'Leary Urges Trump to Impose 400% Tariff on Chinese GoodsKevin O'Leary Urges Trump to Impose 400% Tariff on Chinese GoodsApr 10, 2025 pm 12:35 PM

Canadian businessman and investor Kevin O’Leary urged the Trump administration to impose a 400% tariff on Chinese goods, arguing that the current 104% tariff is insufficient to compel China to follow trade rules. O’Leary said these statements prior t

Regulatory roadblocks are crumbling as the U.S. Treasury signals a sweeping pivot toward blockchain, stablecoins, and digital assetsRegulatory roadblocks are crumbling as the U.S. Treasury signals a sweeping pivot toward blockchain, stablecoins, and digital assetsApr 10, 2025 pm 12:27 PM

U.S. Treasury Secretary Scott Bessent laid out a broad financial reform agenda at the Bankers Association Summit on April 9, pledging to remove regulatory barriers

China and Russia Have Started to Settle Some Trade Deals Using BitcoinChina and Russia Have Started to Settle Some Trade Deals Using BitcoinApr 10, 2025 pm 12:19 PM

According to a report by VanEck, China and Russia have started to settle some trade deals using Bitcoin.

Ethereum (ETH) Underperforms Bitcoin (BTC)Ethereum (ETH) Underperforms Bitcoin (BTC)Apr 10, 2025 pm 12:01 PM

underperformed Bitcoin on 85% of all trading days since it launched in 2015. The ETH/BTC ratio, which tracks the value of Ether relative to Bitcoin, dropped to a five-year low of 0.018

President Trump's Tariff Announcement Sent Bitcoin Dropping 5.4%President Trump's Tariff Announcement Sent Bitcoin Dropping 5.4%Apr 10, 2025 am 11:53 AM

In the world of cryptocurrencies, few events can shake things up like big government decisions. President Trump's recent tariff announcement did exactly that

Bitcoin Surges Above $82,000 on Tariff Pause, XRP Rallies on ETF LaunchBitcoin Surges Above $82,000 on Tariff Pause, XRP Rallies on ETF LaunchApr 10, 2025 am 11:51 AM

The cryptocurrency market rebounded sharply after President Trump announced a 90-day tariff pause for non-retaliating countries, with Bitcoin surpassing $83,000 and XRP gaining 13% to reclaim the $2 level

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

AI Hentai Generator

AI Hentai Generator

Generate AI Hentai for free.

Hot Article

R.E.P.O. Energy Crystals Explained and What They Do (Yellow Crystal)
3 weeks agoBy尊渡假赌尊渡假赌尊渡假赌
R.E.P.O. Best Graphic Settings
3 weeks agoBy尊渡假赌尊渡假赌尊渡假赌
R.E.P.O. How to Fix Audio if You Can't Hear Anyone
3 weeks agoBy尊渡假赌尊渡假赌尊渡假赌
WWE 2K25: How To Unlock Everything In MyRise
3 weeks agoBy尊渡假赌尊渡假赌尊渡假赌

Hot Tools

SecLists

SecLists

SecLists is the ultimate security tester's companion. It is a collection of various types of lists that are frequently used during security assessments, all in one place. SecLists helps make security testing more efficient and productive by conveniently providing all the lists a security tester might need. List types include usernames, passwords, URLs, fuzzing payloads, sensitive data patterns, web shells, and more. The tester can simply pull this repository onto a new test machine and he will have access to every type of list he needs.

Notepad++7.3.1

Notepad++7.3.1

Easy-to-use and free code editor

Dreamweaver CS6

Dreamweaver CS6

Visual web development tools

Atom editor mac version download

Atom editor mac version download

The most popular open source editor

SublimeText3 Chinese version

SublimeText3 Chinese version

Chinese version, very easy to use