U.Today – , the world's leading cryptocurrency, has stagnated in price performance, below expectations of the broader ecosystem following the halving event. Although the Bitcoin halving was not a guarantee of a price increase, the digital asset has not yet skyrocketed and surpassed certain critical price levels or reached the peak of $73,000 that it reached before the halving. half in March 2024.
Saylor's cryptic post and her continued defense
Despite this seemingly poor performance, Bitcoin advocate and MicroStrategy co-founder Michael Saylor, in a cryptic post on X, urges investors to have faith in the asset and buy BTC. According to the post, it features a mouth-watering blue apple with a Bitcoin sign on it.
Saylor’s words accompanying the image are an invitation: “Take a bite.” The simple three-word phrase embodies everything the MicroStrategy co-founder stands for, according to Bitcoin. Notably, under Saylor's leadership, MicroStrategy remains optimistic about acquiring the asset regardless of the market price.
Recently, the business intelligence firm made a Bitcoin purchase for a staggering 11,931 Bitcoin worth $786 million at an average price of $65,883 per coin. This has helped cause a change in price in recent times.
According to data from CoinMarketCap, Bitcoin is currently trading at $61,402.17, up 0.47% in 24 hours.
Normally, while some investors may consider this a loss, Saylor does not hold back on his bullish acquisition strategy. Interestingly, the average Bitcoin purchase price for MicroStrategy is $36,798, a huge profit margin for the company.
Strategic Bitcoin acquisitions by MicroStrategy
Saylor, a strong supporter of Bitcoin at every opportunity, maintains that despite the uncertainty in the price of BTC, investors should continue buying Bitcoin. In his words, Saylor stated: “Buy Bitcoin before you need it.”
MicroStrategy boss insists investors should adopt his principle on the digital asset, “Bitcoin: Never sell.”
According to the U.Today report, after the recent purchase, MicroStrategy stock now stands at 226,331 Bitcoin acquired for $8.33 billion. Some of the purchases were financed through proceeds from convertible senior notes and excess cash.
This article was originally published on U.Today.
