Bitcoin continued its decline over the past week, losing more than 5% of its value after dropping from the historic high near $124,000 to about $113,600. This drop raised concerns among investors, especially with the increasing pace of profit-taking and liquidations across trading platforms.
Nevertheless, Michael Saylor, co-founder of Strategy and one of the prominent supporters of Bitcoin, issued a new message of optimism via platform X, urging investors to ignore the 'short sellers.' He posted an AI-generated image showing him as a hunter being chased by a bear, symbolizing resilience in the face of selling pressure.
The decline was not limited to Bitcoin alone; it also reflected on the Strategy stock, which lost 7.43% in a single session, dropping to its lowest level since April, with monthly losses of 21%. This came after the company changed its policy regarding stock issuance, retracting its promise not to sell below 2.5 times the net asset value, which sparked sharp criticism from investors.
Despite the pressures, Saylor has not wavered from his long-term investment strategy. Strategy announced the purchase of 430 new Bitcoins worth $51.4 million, bringing its total holdings to 629,376 Bitcoins with a market value exceeding $71 billion. Saylor asserts that his plan has not changed, and that the declines represent a new opportunity to strengthen positions.
