2024

Bitcoin

when

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 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
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Michael Saylor, founder of <a href="https://u.today/microstrategy-down-90-in-24-hours-heres-why" rel="noopener noreferrer nofollow">MicroStrategy</a> and a prominent Bitcoin proponent, has taken to his account on the X social media platform (widely famous as Twitter in the past) to send an important message to the global Bitcoin community across the internet.
This sounds like Saylor’s reaction to the recent Bitcoin price surge when, as an outcome, BTC managed to recover the $61,000 mark.
<h2 id="saylor-s-smashing-bitcoin-statement">Saylor's smashing Bitcoin statement</h2>
The MicroStrategy founder published what looks like an AI-generated image with Saylor as a university professor with a piece of chalk in his hand, while making calculations on a blackboard and turning around to explain the subject to the audience.
Saylor’s tweet that goes with this image says: “By my calculations, <a href="https://u.today/bitcoin-risk-off-asset-but-samson-mow-clarifies-crucial-nuance" rel="noopener noreferrer nofollow">bitcoin is going up</a> forever.”
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 By my calculations, bitcoin is going up forever. 🚀 <a href="https://t.co/tSQuUJlUbh" rel="noopener noreferrer nofollow">pic.twitter.com/tSQuUJlUbh</a> — Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1825868178582274236?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 20, 2024</a>
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The message was published after the world’s largest cryptocurrency demonstrated a 5.43% increase, rising from $58,000 to slightly above the $61,000 level within the last 24 hours. However, after Bitcoin surpassed $61,000, it faced a small rebound, which led to dumping 1.1% and now trading at the $60,500 price mark.
Michael Saylor is famous for his bold Bitcoin price statements, in which he said that MicroStrategy is going to hold its BTC stash for a minimum of 10 years, and that holders should keep their Bitcoin in cold wallets forever. Earlier this year, he even published a tweet that suggested that Bitcoin can now be taken to one’s grave after death.
The tweet went: “They say you can't take it with you. They were right—until #Bitcoin.” However, it could also be interpreted as a statement underscoring Bitcoin’s ability to be easily transported anywhere in large amounts, unlike cash or gold.
He also strongly advises users not to ever sell their Bitcoin, especially when the price plummets.
<h2 id="large-whales-keep-scooping-up-btc">Large whales keep scooping up BTC</h2>
According to data provided by the popular on-chain aggregator Santiment, large Bitcoin whales, especially those holding between 100 and 1,000 BTC, have been accumulating BTC quite actively as of late.
In particular, over the last six weeks, they have managed to scoop up a whopping 94,700 BTC, which is the equivalent of $5,721,603,540. The Santiment team pointed out that while the current price uncertainty on the cryptocurrency market has forced many traders to sell, key players continue to load up on Bitcoin, taking it from “paper hands.”
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 🐳 Bitcoin's whales, specifically wallets that hold between 100-1K BTC, have accumulated 94.7K more coins in the last 6 weeks. As price uncertainty has shaken many traders out of crypto, key stakeholders are loading up. <a href="https://t.co/hrhlVrNqNU" rel="noopener noreferrer nofollow">pic.twitter.com/hrhlVrNqNU</a> — Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1825551289230794963?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 19, 2024</a>
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Michael Saylor Says 'Bitcoin Going up Forever,' Shares 'Calculations'

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