U.Today – Amid the current Bitcoin price crash, Michael Saylor, co-founder and chairman of MicroStrategy, has captured the attention of the crypto community with a thought-provoking statement. Saylor, a staunch Bitcoin advocate, took to X to share his thoughts, stating, “Success is not random, it’s calculated. Bitcoin.”
Saylor’s tweet was accompanied by an image explaining his message. The image contained a mathematical formula derived from Bitcoin variables: 32, which is the total number of halvings that have occurred; 210,000, which is the number of blocks between halvings; 50, which is the number of new Bitcoins issued per block; and finally, the cumulative number of halvings so far, which is 2i.
Saylor’s tweet coincides with a period of volatility in the cryptocurrency market, where the price of Bitcoin has seen a significant drop. Several factors have contributed to this decline, including macroeconomic uncertainties and profit-taking by investors.
Several cryptocurrencies are in the red, with Bitcoin falling 3.34% over the past 24 hours to $58,167. Bitcoin saw profit-taking after hitting highs of $61,194 in yesterday’s trading session, falling to an intraday low of $58,027 by press time after losing the $59,000 level.
and Chainlink recorded losses between 3% and 6%. FET, TAO, WIF, and Floki had larger losses between 7% and 18%.
Saylor's message says a lot
Saylor’s message, “Success is not random, it’s calculated,” underscores his focus on Bitcoin. Saylor’s company, MicroStrategy, began acquiring Bitcoin in August 2020 as a hedge against inflation and as an alternative to cash.
MicroStrategy, led by Saylor, declared holdings of 226,500 bitcoins on July 31, an increase of several coins since its most recent purchase announcement in mid-June. The 226,500 bitcoins were purchased for $8.3 billion, or an average of $36,821 per token. For Saylor and MicroStrategy, Bitcoin is not a speculative bet, but a carefully considered strategy.
Saylor recently stated that he is becoming more bullish on Bitcoin with each passing day.
This article was originally published on U.Today
