- Micheal Saylor’s words rally the Bitcoin and crypto community.
- He reminds the community that Bitcoin is a scarcity while other assets are a commodity.
- Many hodlers have begun to take their assets off of exchanges.
As Bitcoin (BTC) staggers at a value below $40,000, the crypto community is witnessing either strife and FUD or is clinging to their bullish Bitcoin narrative now more than ever.
For instance, the Bitcoin Magazine Twitter page posted a quote from one of the biggest Bitcoin believers within the industry — Micahel Saylor. No doubt, the CEO of MicroStrategy has time and again proven his faith in the crypto asset.
To highlight, Saylor presently owns hundreds of millions in Bitcoin value. In fact, he has repeatedly bought BTC dips to build his Bitcoin collection over the last year or so. What’s more, he says he will not sell his Bitcoin.
The CEO has also been very vocal about why he believes in Bitcoin. He says it is the truest form to attain ‘true financial freedom’. As we can see from the tweet, many others hold his view as well and push for mass education about crypto and Bitcoin. This way, more of the general population can join the revolution.
As Saylor says in the tweet “Bitcoin is a scarcity. Everything else is a commodity”. More replies to the tweet support this argument. In particular, one comment points out how every other resource can be found, grown, or created; but not Bitcoin.
In light of the Russia-Ukraine war, many are using Bitcoin, Ethereum, and other crypto tokens to support Ukraine. This is an incredible show of solidarity. More so, it is a move that could only be done with crypto.
After all, crypto is the safest bet here considering it cannot be controlled or blocked by any intermediary. For instance, banks can hold or freeze one’s assets but peer-to-peer (P2P) crypto transactions are free and unmonitored.
However, crypto exchanges still pose an issue. Crypto assets on such exchanges can be frozen or held. Thus, many crypto holders are making the decision to move their crypto assets off of exchanges.
For example, Lark Davis draws light to three huge BTC transactions. In detail, thousands of BTC worth over a billion were moved from Coinbase to unknown wallets. Perhaps, we may see a new surge in the price of Bitcoin soon. Specifically, one comment suggests more crypto education will eliminate FUD and rapidly elevate the value of Bitcoin.
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