If currently all eyes are on The Merge, Michael Saylor does not lose sight of his favorite asset. As time passes, its relationship with bitcoin (BTC) grows. As the market is once again in the red, the investor is making another exit in favor of cryptocurrencies.
Many people need bitcoin (BTC)
Former Microstrategy CEO Michael Saylor has never made a secret of his unwavering faith in bitcoin (BTC). As the bear market continues, he took to Twitter and said he thinks many people around the world need bitcoin (BTC). According to him, there is no other alternative to BTC.
In this era where cryptocurrencies are increasingly flooding the markets and where investors are getting scared, Saylor firmly believes that no asset can ever match the flagship crypto. As he himself stated, bitcoin is a digital asset that acts as a bridge for the transfer of money both in space and in time.
Also, if people are still hesitant, he has full confidence in bitcoin (BTC) as Microstrategy’s stock price has risen 67% since the company switched to the leading crypto. Although many stocks have seen steady growth or significant declines this year, Michael Saylor keep on going to place the king of cryptocurrencies on a pedestal.
The Merge, a big boost for BTC?
This year was greatly marked by the announcement of the Ethereum (ETH) merger. Indeed, the transition from a consensus of Proof-of-Work (PoW) at Proof-of-Stake (PoS) that took place a few days ago boosted awareness of ETH. But apparently the latter has not only been beneficial to the second-largest crypto by market capitalization.
While attending a conference in Australia on September 17, the staunch bitcoin advocate said in a video that BTC was bolstered by The Merge. For Michael Saylor, the Bitcoin blockchain represents the most efficient and clean use of energy in the industry. Because of this, he believes that proof-of-work consensus is the only mechanism that succeeds in the production of digital assets.
Going even further, the company recently revealed that it plans to sell $500 million worth of MSTR stock to boost its bitcoin (BTC) cash position. Recall that currently, Microstrategy already has 129,699 bitcoins. A new acquisition will only strengthen the position of the company and that of Saylor on this asset.
Michael Saylor appears to be defending bitcoin (BTC) through thick and thin. However, it is not the only one since many people across the globe believe in this active ingredient. If the state of the current markets leaves a little to be desired, that does not prevent people from taking a little more interest in the sector every day.
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