Michael Saylor Speaks Out on Bitcoin Surpassing $63,000 Again

Renowned figure in the Bitcoin community, Michael Saylor, who is the co-founder and executive chairman of MicroStrategy, recently shared his thoughts on the significant surge in Bitcoin’s price. Saylor took to social media, specifically the X platform (previously known as Twitter), to discuss the impressive nearly 5% increase in BTC over the past 24 hours, pushing it back above $63,000 and briefly surpassing $63,560.

In his statement, Saylor encouraged the global cryptocurrency community to divest from US dollars and instead invest in Bitcoin. This bullish sentiment was met with enthusiasm within the Bitcoin sphere.

Saylor’s message was succinct yet impactful, simply stating “sell” and “Buy,” with the initial letters of both words symbolizing the dollar and Bitcoin, respectively.

Following a recent dip in Bitcoin’s price from $64,470, which saw a 7% decline, the cryptocurrency began a gradual recovery. By last Sunday, Bitcoin had rebounded by 3.35%, reaching $61,980. Subsequent increases propelled Bitcoin back above $63,000 and briefly over $63,500. Currently, Bitcoin is trading at $63,200.

However, concerns loom as the troubled Mt. Gox crypto exchange is set to distribute BTC to investors this week, with JP Morgan analysts anticipating a significant sell-off. The exchange is expected to disburse $9 billion worth of Bitcoin.

In a separate development, recent data from the @lookonchain analytics account revealed that on June 28, several spot Bitcoin ETFs experienced inflows totaling over $36.5 million in crypto. Nine ETFs collectively added around 596 BTC, with the Invesco Galaxy ETF leading the inflow by acquiring 152 BTC. This was followed by the Bitwise Bitcoin ETF and the Fidelity exchange-traded fund, which accumulated 131 BTC and 109 BTC, respectively.

Notably, Bitcoin ETFs have been a dominant force in the market since mid-January when the American SEC regulator approved spot BTC funds for trading. These ETFs have been steadily accumulating Bitcoin daily, with pre-halving figures in April showing acquisitions of over 10,000 BTC per day.

The cryptocurrency market continues to be dynamic, with key figures like Michael Saylor shaping narratives and investors closely monitoring developments in the Bitcoin space.