Bitcoin Fails MicroStrategy, Over 1 Billion USD In Loss

• MicroStrategy is at an unrealized loss of over $1 billion.
• This loss is due to the rapid continuous fall of the price of Bitcoin.
• The CEO, Michael Saylor says he will continue to hold Bitcoin as he has faith in the asset.

It is no secret that MicroStrategy’s CEO — Michael Saylor, is a huge fan of Bitcoin, its philosophy, and everything it stands for. Over the last year, the CEO has spent millions investing in Bitcoin (BTC). 

Read CRYPTONEWSLAND on google news

Presently, with the price of Bitcoin falling at an exponential rate, many investors are panic selling. In contrast, others continue to hold true as they recognise the global market to be bearish as a whole. 

In particular, Michael Saylor’s MicroStrategy investments in Bitcoin is at an unrealised loss of over $1,000,000,000. The responses to this news via a tweet by Watcher Guru shows that many are unfazed as they understand the current bear market situation. 

What is important to note is that when many are panic selling their Bitcoin, true believers are preparing to weather the storm. Most analysts expect the next bull market to arrive late 2023 or early 2024. This bull run will likely arrive at the next Bitcoin halving. 

Still, the inevitable bull market will only arrive if investors continue to hold their Bitcoin and other crypto assets. Lucky for Bitcoin, it has one of the strongest and most level-headed loyalists on its side. 

To highlight, Michael Saylor himself is one of the leading bannermen. In fact, the CEO tweets saying “In #Bitcoin We Trust”. This unwavering faith in the crypto and its vision is likely what will carry the crypto community to calmer shores eventually. 

After all, it seems the next bull run will lead to a very exciting price for Bitcoin and other crypto. Many new all-time highs are to be expected. Besides, some are even expecting Bitcoin to recover this very year. Specifically, expectations are of the price surging between $75,000 – $100,000, if not more. 

Recommended News :

• El Salvador Fails World Bank Support Over BTC Implementation
• Saylor Buys the Dip: MicroStrategy Buys 7,002 Bitcoins
• MicroStrategy Announces $299M Loss, Remains Bullish on Bitcoin
• IBC Group, NFT Tech, and Faith Tribe to Launch Fashion-Focused Launchpad
• Saylor Still Bullish on BTC Amid Crypto, Stocks Crash