The cryptocurrency market faced renewed volatility early Friday as broader financial markets turned sharply bearish. Bitcoin (BTC), the world’s largest digital asset, fell to an intraday low of $107,327 amid rising macroeconomic uncertainty, triggering a wave of profit-taking across the crypto space.
Despite the sudden drop, MicroStrategy Executive Chairman Michael Saylor remained unfazed. In a tweet posted on May 23, Saylor reaffirmed his long-term conviction in Bitcoin, stating simply:
“No tariffs on Bitcoin.”
The tweet, while brief, echoed Saylor’s consistent narrative—Bitcoin remains a borderless, unregulated store of value, insulated from traditional market mechanisms and geopolitical constraints.
Market Recap
Earlier this week, Bitcoin reached a new all-time high of $112,000 on Coinbase, fueled by strong institutional demand and increasing regulatory clarity. The surge pushed Bitcoin’s total market capitalization above $2.2 trillion, setting a historic benchmark for the asset class.
However, Friday’s market session saw a significant reversal, with risk assets broadly pulling back. U.S. stock index futures dropped nearly 2% during early trading, amplifying the crypto sell-off. As a result, Bitcoin retreated from its highs, trading at $108,501 at the time of writing, down 2.44% over the past 24 hours. Total crypto liquidations reached $540 million, according to data from CoinGlass.
Strategic Moves Amid Volatility
Adding to the headlines, MicroStrategy recently announced plans to raise up to $2.1 billion through the sale of 10% perpetual preferred stock. The move underscores the company’s ongoing commitment to acquiring more Bitcoin, even as market conditions fluctuate.
As the market reacts to global macro developments, Saylor’s message offers a reminder of Bitcoin’s unique proposition as an independent financial asset—untethered from the levers of traditional economic policy.