Bitcoin's decline is an opportunity, not a problem - Michael Saylor

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Cryptodnes2024/06/18 23:10

By:Cryptodnes

Michael Seiler, co-founder of MicroStrategy and a vocal defender of Bitcoin (BTC), recently commented on the flagship cryptocurrency's price decline, stressing the importance of taking a long-term view and viewing market fluctuations as potential opportunities.

Comments emphasize to him the need for a strategic approach to Bitcoin investing that views market corrections as opportunities rather than setbacks. This proactive stance resonates with the crypto community, which focuses on dealing with volatility while maintaining confidence in the future potential of Bitcoin .

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MicroStrategy, under Saylor's leadership, continues its strategic acquisition of Bitcoin that began in August 2020. The company recently revealed plans to raise $700 million through convertible bonds due 2032.

The aforementioned capital increase is a manifestation of MicroStrategy's continued belief in Bitcoin despite short-term price fluctuations. The money raised will go towards supporting the company's investment in BTC as well as covering operational costs.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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The crypto market has dipped in response to President Trump’s plan to enact steep tariffs on imported goods from Canada, Mexico, and China beginning on Tuesday.Canada and Mexico have ordered retaliatory tariffs in response, while China promised “corresponding countermeasures” and said it would file a lawsuit with the WTO.Memecoins were particularly hard-hit by the downturn, with many top coins seeing double-digit percentage drops. Trump’s memecoin has fallen nearly 30% over the past week.

The Block•2025/02/02 17:11