U.Today – American entrepreneur and MicroStrategy CEO Michael Saylor, known for his radically bullish stance on major cryptocurrencies (BTC), has unleashed an epic new post on his social media accounts. It should be noted that Saylor periodically revolutionizes the information field with his viral and unconventional statements about Bitcoin, often accompanied by some non-standard image.
The most recent period was no exception, when the cryptocurrency market came under fire due to unsatisfactory macroeconomic data. The businessman literally presented himself as a uniformed firefighter with the BTC logo putting out the fire. This epic work of artificial intelligence was announced by the companies with the title “Bitcoin to the rescue.”
Bitcoin versus recession?
It's still worth understanding which fire Michael Saylor is putting out: the one that wiped $24 billion off the cryptocurrency market capitalization in a matter of hours, or the one that is currently burning down the US economy. But they are all pieces of the same puzzle: Inflation is rising faster than expected despite the Federal Reserve's recent 50 basis point rate cut.
However, what is happening in the economy, which is clearly in recession, is not necessarily the same as what market participants see, and they seem to expect monetary easing to continue.
In that case, Saylor could be said to be choosing the right side, promoting Bitcoin as a safe haven in times of market conflagration. However, there is no doubt that the businessman would have chosen BTC in any other situation as well.
This article was originally published on U.Today.
