Michael Saylor Issues Bitcoin Statement Amid Ongoing Crypto Market Turmoil
U.Today – Michael Saylor, Chairman of MicroStrategy business intelligence firm, dropped his usual post on X. The message reflects Saylor’s bullish disposition to Bitcoin (BTC) regardless of market dynamics. As the current price rapidly declines, Saylor has ignored the gloom and issued a notable message to Bitcoin investors.
Resilience in face of volatility
Saylor issued a four-word statement: “Wear a Hard Hat.” The Bitcoin enthusiast attached an image of himself in an orange hard hat, inscribed with Bitcoin and a vest. Behind him are screens of market activities as traders stare at what might be an ongoing gloomy market run.
Despite the tense atmosphere, Saylor maintains that investors must wear a hard hat as the market suffers, which could be a momentary crash.
Notably, workers stay safe on a construction site by wearing a hard hat to protect themselves from crashing objects. Saylor appears to have the same advice for Bitcoin investors to protect themselves.
Analysts suggest that investors could use stop-loss orders, hedge with derivatives or monitor market sentiments in a crashing market. However, the Bitcoin advocate would rather stay calm and stick to his Bitcoin accumulation plan for Saylor.
MicroStrategy’s continued Bitcoin strategy
As reported by U.Today, Saylor continues to stick to his massive accumulation strategy on Bitcoin regardless of price.
When Bitcoin hit $100,700 after suffering a momentary dip, Saylor rejected the idea of selling for profit-taking in an interview. He maintained that the Bitcoin community would never trust MicroStrategy should it decide to sell BTC. This highlights Saylor’s and MicroStrategy’s holding strategy.
Meanwhile, Saylor has hinted at changing MicroStrategy’s fundraising approach to add more intelligent leverage. Having achieved targets faster than anticipated, Saylor says the company will continue to raise capital primarily via fixed-income markets.
He believes the company needs more leverage to compensate for its increasing deleveraged position.
This article was originally published on U.Today
