U.Today – Michael Saylor, co-founder of business intelligence giant MicroStrategy, which has become a leader in accumulation over the past four years, making it part of its development strategy, has addressed the crypto community with a bullish tweet about BTC.
This happened as the global flagship cryptocurrency experienced a 4.89% recovery over the past 24 hours, moving away from the $53,900 zone it reached on Friday.
Saylor's message to the Bitcoin community
Michael Saylor addressed the global Bitcoin community with a message about the stability of Bitcoin: “1 BTC = 1 BTC.” He commented on the recent rollercoaster ride of the BTC market, as Bitcoin plummeted by more than 15% between Monday and Friday, losing $10,000 of its price.
On Friday, digital gold began to reverse, at least for now, and recorded a rise of almost 5%, moving from $53,900 to the $56,550 level, where it is changing hands at the time of writing.
The price increase came as the United States published its June non-farm payrolls report, which came in better than analysts had initially expected: 206,000 versus the 190,000 expected.
US and German governments and Mt Gox sell Bitcoin
Over the past three weeks, two major entities have been selling staggering amounts of Bitcoin, while the third has so far only moved billions of US dollars worth.
The US government, the German government, and the defunct cryptocurrency exchange Mt Gox all started transferring Bitcoin on June 19. In total, they have moved $1.08 billion worth of Bitcoin, which is equivalent to 17,778 BTC. Since July 1, the German government has been selling Bitcoin every single day, according to smart wallet tracker Lookonchain. Now, these entities together own a whopping 396,210 BTC valued at roughly $22.78 billion. The US government owns 213,297 BTC (valued at $11.72 billion), Germany still owns 41,226 BTC (valued at $2.28 billion), while Mt Gox so far owns 141,687 BTC, which is equivalent to $7.78 billion.
Mt Gox has begun refunding Bitcoin to investors who suffered from its hack in 2014.
Bitcoins held by governments were primarily seized for illegal operations and money laundering. The U.S. government also holds bitcoins confiscated during the shutdown of the Silk Road darknet marketplace, founded and run by Ross Ulbricht more than 10 years ago until it was shut down in 2013.
This article was originally published on U.Today
