U.Today – Michael Saylor, CEO and co-founder of MicroStrategy, made an epic appeal to the cryptocurrency community: “Learn to think in…” Saylor’s news comes at a time when the cryptocurrency market is in a slump, with Bitcoin and many major assets showing little or no movement.
Bitcoin fell to its lowest price in almost a month on Friday, hitting lows of $65,005 before recovering slightly. Bitcoin is currently trading at $66,571 according to data from CoinMarketCap, up 0.40% on the day, while current market performance remains mixed, with several cryptocurrencies reporting losses on a 24-hour horizon.
With the market relatively composed, some, including Saylor, see this time as a time for introspection and strategic thinking, hence the call to “learn how to think in Bitcoin.”
Saylor began buying Bitcoin in 2020 as a hedge against inflation and an alternative to holding cash. Saylor’s company, MicroStrategy, has raised approximately $12.7 billion in Bitcoin, or more than 1% of all Bitcoin ever created. The largest cryptocurrency by market capitalization has surged more than 600% since Saylor began purchasing.
Bitcoin is up about 60% this year, thanks in part to optimism about U.S. spot ETFs approved in January. Over the same period, MicroStrategy shares have increased by approximately 135%.
Last week, MicroStrategy raised its convertible bond offering by 40% to $700 million, announcing plans to exploit the funds to buy more Bitcoin.
While the context of Saylor’s tweet remains open to interpretation, the call to “learn to think in Bitcoin” may be a reminder to look at the bigger picture, beyond short-term market volatility.
On the other hand, Saylor’s message may be a call to embrace the financial paradigm pioneered by cryptocurrencies, heralding a fundamental shift in the perception of value and wealth.
