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Michael Saylor Sends Bullish Message on BTC as Bitcoin Recovers From Below $54K by U.Today
U.Today – Michael Saylor, co-founder of MicroStrategy, the business intelligence giant that has become a leader in accumulation over the past four years, including it in its development strategy, addressed the cryptocurrency community with a bullish tweet about BTC.
This came as the world’s leading cryptocurrency rallied 4.89% in the past 24 hours, moving away from the $53,900 zone touched on Friday.
Saylor’s Message to the Bitcoin Community
Michael Saylor addressed the global Bitcoin community with a message about the stability of Bitcoin: “1 BTC = 1 BTC.” He commented on the recent rollercoaster ride the BTC market has shown, with Bitcoin dropping more than 15% between Monday and Friday, shedding $10,000 of its price.
On Friday, digital gold began to reverse course, at least for now, and has seen a rise of almost 5%, moving from $53,900 to $56,550, where it sits at the time of writing.
The price increase coincided with the release of the June U.S. nonfarm payrolls report, which came in better than analysts had initially expected: 206,000 versus the 190,000 forecast.
US and German governments, Mt Gox sell Bitcoin
In the last three weeks, two large entities have sold massive amounts of Bitcoin, while the third has so far moved only billions of dollars.
The United States, German governments, and defunct cryptocurrency exchange Mt Gox began moving Bitcoin on June 19. Together, they have moved $1.08 billion in Bitcoin, or 17,778 BTC. Since July 1, the German government has sold Bitcoin every day, according to smart wallet tracker Lookonchain. These entities now hold a combined 396,210 BTC, valued at approximately $22.78 billion. The U.S. government holds 213,297 BTC (valued at $11.72 billion), Germany still holds 41,226 BTC (valued at $2.28 billion), while Mt Gox so far holds 141,687 BTC, or $7.78 billion.
Mt Gox has started refunding Bitcoin and investors who suffered from the 2014 hack.
Government-held Bitcoins have been confiscated primarily from illegal operations and money laundering. The U.S. government still holds Bitcoins seized during the shutdown of the Darknet marketplace Silk Road founded and operated by Ross Ulbricht over 10 years ago until its shutdown in 2013.