U.Today – Michael Saylor, co-founder of business intelligence giant MicroStrategy, which has become a leader in accumulating money over the past four years as part of its growth strategy, addressed the cryptocurrency community in an upbeat Twitter post about BTC.
This comes as the world’s leading cryptocurrency has surged 4.89% in the past 24 hours, moving away from the $53,900 level reached on Friday.
Saylor’s Message to the Bitcoin Community
Michael Saylor addressed the global Bitcoin community with a message about Bitcoin’s stability: “1 BTC = 1 BTC.” This was his way of commenting on the recent rollercoaster demonstrated in the BTC market, when Bitcoin fell by more than 15% between Monday and Friday, losing $10,000 of its price.
On Friday, the price of digital gold began to turn around, at least for now, and rose almost 5% from $53,900 to $56,550, where it is changing hands at the time of writing.
The price enhance came after the US released a non-farm payroll report for June, which was better than analysts had initially expected, coming in at 206,000 versus 190,000 expected.
US and German governments, Mt Gox sells Bitcoin
Over the past three weeks, two major entities have been selling staggering amounts of Bitcoin, while a third is currently trading billions of dollars worth.
The United States, German governments, and defunct cryptocurrency exchange Mt Gox began transferring Bitcoin on June 19. They have collectively transferred $1.08 billion in Bitcoin, which is 17,778 BTC. Since July 1, the German government has been selling Bitcoin every day, according to sharp wallet tracker Lookonchain. These entities now collectively hold a whopping 396,210 BTC, valued at about $22.78 billion. The U.S. government holds 213,297 BTC (valued at $11.72 billion), Germany still holds 41,226 BTC (worth $2.28 billion), while Mt Gox has so far held 141,687 BTC, which is worth $7.78 billion.
Mt Gox has begun paying back Bitcoin and investors who suffered a hack in 2014.
Bitcoins held by governments were primarily confiscated from illegal operations and money laundering. The U.S. government still holds Bitcoins confiscated during the shutdown of the Silk Road darknet marketplace founded and run by Ross Ulbricht over a decade ago until its closure in 2013.
