Michael Saylor, a vocal Bitcoin evangelist and the executive chairman of the BTC treasury company Strategy, has addressed the community to share his take on the earliest cryptocurrency’s price move which took it $2,500 down during the past few hours.
Despite the substantial price decline, Saylor remains bullish on Bitcoin long term.
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Bitcoin can let you leave the Matrix, per Saylor
Saylor has once again published an AI-generated image of himself related to his favorite asset – Bitcoin. This time, he referred to the classic sci-fi metaphor movie by Wachovski brothers, “The Matrix.”
While in the film itself escaping the Matrix was possible using street payphones, which have almost totally disappeared by now due to the widespread use of mobile phones, Saylor suggests that now, “Tickets to escape the matrix are priced in Bitcoin.”
While the Matrix philosophy is rather typical of Bitcoin libertarians, who dream of removing banks and using BTC as a currency without any intermediaries, Saylor can hardly be put in the same camp with them since he does not mind banks or centralized custody.
Last year, he even rebuked those who advocate Bitcoin self-custody as the only acceptable approach are crazy Bitcoin anarchists. After facing a strong backlash, he published a tweet, saying that everyone has the right to store Bitcoin the way they see fit, be it self-custody in cold wallets or corporate custodians, including banks.
Bitcoin price falls 2.33%
During the past 24 hours, the world’s bellwether cryptocurrency, Bitcoin, has declined by roughly 2.33%, falling from $106,150 to the $103,400 zone.
This decline took place after Bitcoin surged from $104,280, attempting to test $106,000. Since Monday, Bitcoin is down 4.87% as it dropped from the local peak of $108,850.
Large wallets continue accumulating BTC
Data published by the on-chain tracker Santiment reveals that while Bitcoin is going down, large wallets, holding 10 BTC and more continue accumulating – over the past ten days 231 wallets more have been added. This constitutes a 0.15% growth.
Meanwhile, smaller wallets, which hold 0.001 to 10 BTC, have been dumping Bitcoin. Over the same period of time, the number of these wallets has decreased by 37,465, showing a 0.15% decline. The former remain bullish, while the latter are losing confidence. Santiment says “this is historically the right combination for bullish momentum to inevitably return to crypto markets.”
