Is Bitcoin Still a Safe Bet? Michael Saylor’s Latest Statement Could Surprise You!

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As Bitcoin’s price takes a break from its recent rally, Michael Saylor, the chairman of MicroStrategy, has shared a strong message with the cryptocurrency community. Saylor, who has long been a vocal supporter of Bitcoin, tweeted, “Success isn’t random—it’s calculated. Bitcoin.” This statement hints firm belief in the future of Bitcoin.

Michael Saylor’s Big Statement

Michael Saylor recently shared a tweet that highlights how Bitcoin’s success is not based on luck but on careful planning. He posted an image showing a formula related to Bitcoin’s system. 

Success isn’t random—it’s calculated. #Bitcoin pic.twitter.com/6dUl37NK6y

— Michael Saylor (@saylor) August 30, 2024

This formula included numbers like 32, which is the total number of Bitcoin halvings that will ever happen; 210,000, the number of blocks between each halving; 50, the initial number of Bitcoins given out per block; and 2i, which represents the halvings that have occurred so far. However, these figures are crucial for understanding Bitcoin’s controlled supply, which limits the total number of Bitcoins to 21 million. 

Saylor’s message was clear: Bitcoin is built on a solid mathematical foundation, making it a calculated asset, not a random one. 

MicroStrategy’s Bitcoin Holdings

MicroStrategy, under Saylor’s leadership, started buying Bitcoin in August 2020 as a hedge against inflation and a better store of value compared to cash. As of August 31, the company holds 226,500 Bitcoins, purchased for around $8.3 billion, at an average price of $36,821 per Bitcoin. 

Meanwhile, for Saylor, this strategy is not about speculation; it’s a calculated move to protect and grow the company’s assets.

Bitcoin’s Recent Drop

Saylor’s comments come at a time when the cryptocurrency market is experiencing significant fluctuations. In the past day, Bitcoin’s price dropped by about 3.34%, falling to $58,167 after hitting a high of $61,194. This decrease followed a peak of $61,194 in the previous trading session.

The current downturn in the market is due to several factors, including economic uncertainty and investors taking profits after Bitcoin’s recent highs. Despite these challenges, Saylor remains confident in Bitcoin’s potential.

Other cryptocurrencies, such as Ethereum, Shiba Inu, Solana, and Chainlink, also saw declines of 3% to 6%, while smaller assets like FET, TAO, WIF, and Floki experienced even larger drops of 7% to 18%