Michael Saylor Urges Bitcoin Community: Do Not Sell!

Michael Saylor, a prominent Bitcoiner, has made an important statement to the Bitcoin community.

Michael Saylor, the founder and former CEO of MicroStrategy, has taken to the X/Twitter social networks platform to comment on the current significant decline in the Bitcoin price and to problem a call to the BTC community in an attempt to avert a further drop.

Saylor issued a tweet warning his followers and the Bitcoin community at large not to sell their BTC. The Securities and Exchange Commission's approval of spot-based Bitcoin exchange-traded funds earlier this week has caused Bitcoin volatility, and the flagship cryptocurrency has been falling since many have begun to sell to profit on the initial price increase, and many have sold to get free funds to invest in Bitcoin ETFs.

Saylor, as CEO in 2020, created a Bitcoin-based course for MicroStrategy in August of that year as the company looked for a way out of a crisis. On Saylor's orders, it began regularly purchasing large amounts of Bitcoin and adding them to its balance sheet. MicroStrategy has issued bonds several times in order to purchase more Bitcoin. The most recent BTC acquisition was announced about two weeks ago, when the company paid $615.7 million for another 14,620 Bitcoins between the end of November as well as the end of December 2023. As of December 27, the company had 189,150 BTC worth $8,666,777,340.

According to Saylor's previous statements, the company's goal is to acquire 1% of the total circulating supply of Bitcoin.

MicroStrategy is also planning to issue more bonds to raise an additional $750 million for its Bitcoin holdings. Saylor is only interested in Bitcoin, excluding all other cryptocurrencies, including Ethereum, the second largest cryptocurrency after Bitcoin. In a recent tweet, another Bitcoin maximalist, Max Keiser, praised Saylor for "taking Bitcoin out of the s-coin gutter" and "setting the stage for today's ETF approval."