U.Today – Michael Saylor, president of MicroStrategy and prominent proponent of , recently made a compelling statement about pseudonymous Bitcoin creator Satoshi Nakamoto.
In a tweet, Saylor invoked Satoshi's spirit and declared that “Satoshi started a fire in cyberspace.”
Metaphorically speaking, Saylor describes Satoshi's creation of Bitcoin as the start of a “fire in cyberspace,” highlighting the revolutionary impact of this digital asset on the world.
Satoshi Nakamoto, whose true identity remains a mystery, published the Bitcoin whitepaper in 2008 and mined the first block of the Bitcoin blockchain in 2009.
Satoshi's vision was to create a decentralized peer-to-peer electronic cash system that operated independently of central authorities. This vision has since become a global phenomenon, with Bitcoin at the forefront of the cryptocurrency revolution.
The “fire” Saylor refers to could mean the spark of innovation that has ignited a global movement toward decentralized finance. Satoshi's creation of Bitcoin has undoubtedly ignited a transformative force in the digital world, reshaping the way we think about money, value, and decentralization.
Bitcoin price action
Bitcoin rose last week to within 2.5% of the all-time high of $73,798 set in mid-March, driven by growing demand for exchange-traded funds (ETFs). At the time of writing, Bitcoin was trading at $69,711, up nearly 161% annually.
This year's boom accelerated after the Securities and Exchange Commission allowed ETFs to invest directly in Bitcoin in January. In May, the regulator took a step toward authorizing comparable spot ETFs.
As Bitcoin weighs its next price move, Ali, a crypto analyst, noted that it is anchored in a strong support zone between $69,380 and $67,350. This is where 1.97 million addresses acquired 964,000 BTC, and maintaining this level could be crucial for BTC to maintain its upward momentum.
On a bullish note, Ali reported that approximately 22,647 BTC, worth over $1.57 billion, were recently withdrawn from crypto exchanges.
This article was originally published on U.Today.
