Bitcoin investor Michael Saylor, founder of Strategy, recently addressed the market’s downturn with a provocative statement: “Bitcoin is on sale.” Following a significant 7.11% drop in value, Saylor tweeted this message, highlighting his belief in potential buying opportunities. 🌎 #BTC #CryptoMarket 📉
The price of Bitcoin experienced a sharp decline over the past 24 hours, falling over 7% from its previous peak to land at around $88,820. Several factors contributed to this drop, including Donald Trump’s new tariffs against Canada and Mexico set to take effect on March 4th, along with substantial liquidations within the crypto market and outflows from Bitcoin ETFs totaling $552.5 million.
Elon Musk’s recent letters demanding federal agency employees report their achievements have also played a role, leading to potential legal disputes between Musk and various agencies.
Strategy, led by Saylor, recently purchased a significant amount of Bitcoin – $1.99 billion in total. In addition to this purchase, Strategy has reached its target of holding 499,096 BTC worth $33.1 billion at the current Bitcoin price.
As Strategy continues to invest in Bitcoin and reach their ambitious goal of acquiring 500,000 Bitcoins, Saylor remains optimistic about the future of this digital currency.