© Reuters. Michael Saylor Backs Bitcoin Using Stephen King’s ‘Shawshank Redemption’
U.Today – The vocal evangelist, founder and former CEO of X has endorsed Bitcoin in an unusual way.
Saylor Adds His Bitcoin Message to Film Excerpt
Unlike his usual images, probably produced by an AI-powered app, this time, Saylor used a short excerpt from Frank Darabont’s classic film “Shawshank Redemption” adopted from the novel “Rita Hayworth and the Shawshank Redemption.”
In Saylor’s video, Andy Dufresne puts on a gramophone record and, instead of the opera, starts listening… Michael Saylor endorsing Bitcoin as the “best crypto asset”, saying there is “no second best” after of Bitcoin. Dufresne turns the volume up to maximum and the entire Shawshank prison begins to listen to and enjoy Saylor’s Bitcoin message, taken from one of his public interviews.
The tweet accompanying the video excerpt says “It’s time to break free.”
Bitcoin recovers $45,000
The world’s flagship cryptocurrency, Bitcoin, has managed to recover $45,000 as all Bitcoin ETF spot issuers have updated their S-1 forms, bringing all Bitcoin ETF applications to the final stage at the SEC before being approved.
However, according to Lark Davis, there is “a literal tariff war.” All participants are trying to get as many clients as possible and are reducing their ETF fees for the first half/year or until volumes of $1 billion/$5 billion are reached, i.e. for BlackRock (NYSE:), Galaxy and Ark Invest Fees.
As for the other participants, Fidelity has set its Bitcoin spot ETF fee at 0.39%, WisdomTree at 0.5%, VanEck has reduced it to 0.25% and Valkyrie at 0.8%. Davis commented that all of these Bitcoin ETF fees are much lower than what the community expected, as all of these companies expect high demand for their Bitcoin-based ETF right away, so they are trying to make their product affordable. “as attractive as possible… A wave of capital will flow into Bitcoin. Most likely it will start this week.”
Last week, Bitcoin lost the $45,300 level and plunged 7% after Matrixport published an article, saying that the SEC regulator is unlikely to approve Bitcoin spot ETFs in January and may suspend them until late of this year.
Traders began liquidating their positions, removing approximately $730 million worth of crypto assets, primarily Bitcoin and , from the market.
This article was originally published on U.Today.
