Michael Saylor, founder and chairman of MicroStrategy, believes that "chaos is good for Bitcoin." He shared this view in a post on X as Bitcoin dipped to the $60K threshold. Bitcoin's recent 10% drop, from around $68K to the $60K range, has been attributed by some pundits to escalating global tensions, particularly between Iran and Israel.
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Bitcoin's Recent Decline Sparks Record Liquidations, MicroStrategy Faces Market Turmoil
Bitcoin's recent decline has resulted in significant liquidations for leverage traders, with over $1.2 billion in Bitcoin longs alone being liquidated in the past 24 hours, according to WhaleWire.
This amount sets a new record, indicating the magnitude of the market movement. Despite the financial implications, MicroStrategy's chairman sees the chaos as beneficial for Bitcoin. However, MicroStrategy itself has suffered losses due to the market turmoil. With a substantial portfolio of 214,245 BTC, the company experienced a loss of over $1.5 billion in the past 24 hours. Nonetheless, its overall profit remains substantial, given its average BTC purchase price.
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