Bitcoin continued to record significant losses during the past week, as it fell by more than 5% from its historical peak near $124,000 to around $113,600. This decline has raised concerns among investors, especially with the increasing pace of profit-taking and heightened selling on trading platforms.
In the midst of these circumstances, Michael Saylor, co-founder of MicroStrategy and a prominent advocate for Bitcoin, appeared with a message of optimism via platform X. Saylor posted an AI-generated image depicting him as a hunter being chased by a bear, symbolically referring to resilience in the face of selling waves and market pressures.
The impact of the decline was not limited to Bitcoin alone, but extended to MicroStrategy's stock, which dropped by 7.43% in a single session, marking its lowest level since April, with monthly losses exceeding 21%. Criticism of the company has increased following its decision to backtrack on its previous commitment not to issue new shares at less than 2.5 times the net asset value.
Despite these challenges, Saylor continued to hold on to his long-term strategy of investing in Bitcoin. MicroStrategy announced the purchase of an additional 430 Bitcoins for $51.4 million, increasing its total holdings to 629,376 Bitcoins, with a market value exceeding $71 billion. Saylor confirmed that the drop in prices does not change his plan, but rather presents a suitable opportunity to strengthen positions.
