Michael Saylor Reaffirms Bitcoin's Resilience Amid Market Turmoil

Michael Saylor Reaffirms Bitcoin's Resilience Amid Market Turmoil

Michael Saylor, Bitcoin evangelist and founder of Strategy, has reiterated his bullish outlook on Bitcoin despite the cryptocurrency market's recent downturn. Saylor emphasized Bitcoin's inherent resilience, tweeting that "one Bitcoin will always be equal to one Bitcoin," underscoring its enduring value regardless of market conditions.

Strategy Continues BTC Accumulation

Saylor's company, Strategy, has been aggressively accumulating Bitcoin. The firm recently acquired 22,048 BTC, valued at nearly $2 billion, bringing its total holdings to 528,185 BTC. This stash is currently worth approximately $40.7 billion, though it has declined by over $3 billion in the past week due to market volatility.

Bitcoin's Recent Price Fluctuations

Bitcoin experienced a significant drop over the weekend, falling nearly 10% to $74,700 after losing the $82,650 level. However, it has since rebounded slightly to $76,640 per coin. This volatility was partly attributed to U.S. President Donald Trump's trade tariffs, announced earlier but implemented on April 5.

Bitcoin's Correlation with Stocks

Despite initial hopes that Bitcoin had decoupled from traditional markets, its recent decline mirrors the broader market downturn, including major stock indexes like the Nasdaq 100. This suggests that Bitcoin's performance remains closely tied to traditional financial markets, at least for now.

Saylor's unwavering confidence and Strategy's continued accumulation highlight Bitcoin's long-term potential, even as short-term market challenges persist.