Michael Saylor Issues 'Bitcoin Capitol' Tweet as BTC Seeks to Regain $70,000

U.Today - Michael Saylor, cofounder and former CEO of business software company MicroStrategy, has taken to his official account on the X social media platform (formerly known as Twitter) to share yet another Bitcoin-themed message with his army of followers.

Saylor's "Bitcoin Capitol" tweetSaylor publishes such Bitcoin-related tweets on a daily basis, and this time, he published an AI-generated image of himself sitting on the steps leading to the U.S. Capitol building, saying: “Make Washington the #Bitcoin Capitol.”

The tweet comes right as the official election day in the U.S. started and the eyes not only of American crypto holders but of the whole world are set on that, as everyone is looking forward to the outcome.

Over the last 24 hours, the world’s flagship cryptocurrency, Bitcoin, has demonstrated a 2.88% price increase, rising from the $66,990 zone to the $68,790 level, where it is changing hands at writing time. However, overall, Bitcoin has been striving to surpass the current price mark over the past few days after losing the $71,330 level on Friday last week. Since then, BTC has shed 3.5% in total and has been desperate to regain $70,000.

Nine core principles for MicroStrategy's success, per SaylorOver the weekend, Michael Saylor shared a tweet in which he revealed nine key principles of the Bitcoin strategy that have propelled the company to the top, with a market cap of $4.77 billion as of October 2024.

Since August 2020, when the company adopted its Bitcoin strategy of regular BTC accumulations and also issuing debt to buy and hold even more Bitcoin, MicroStrategy’s stock price (MSTR) has seen mind-boggling growth of more than 1,540%, outperforming the S&P 500 index, which has increased by 111% since then.

In his weekend tweet, Saylor wrote that MSTR was “in an exclusive relationship with $BTC,” hinting that he owes the company’s success to the bellwether cryptocurrency.

Those key principles include buying and holding Bitcoin “indefinitely and exclusively,” “structuring MSTR to outperform Bitcoin via intelligent leverage,” “issuing innovative fixed income securities backed by BTC” and so on.

Last week, Saylor stunned the financial world by revealing plans to raise $42 billion over the next three years to buy more Bitcoin for the company.

Source: Investing.com