U.Today – Michael Saylor's Bitcoin Advocacy

Michael Saylor, cofounder and former CEO of MicroStrategy, shared his latest Bitcoin-focused sentiment on the X platform (formerly Twitter).

Saylor's "Bitcoin Capitol" Tweet

Saylor frequently tweets about Bitcoin, and in a recent post, he shared an AI-generated image of himself on the steps of the U.S. Capitol building with the message: "Make Washington the #Bitcoin Capitol." This tweet coincides with the official U.S. election day, drawing attention from crypto holders worldwide, eager for the election's outcome.

In the past 24 hours, Bitcoin experienced a price rise of 2.88%, moving from around $66,990 to $68,790. Despite this increase, Bitcoin is struggling to regain the $70,000 mark after dropping from $71,330 last week, resulting in a total decline of 3.5%.

Nine Core Principles of MicroStrategy's Success

Over the weekend, Saylor tweeted about nine fundamental principles of his Bitcoin strategy that have propelled MicroStrategy to a market cap of $4.77 billion as of October 2024. Since embracing this strategy in August 2020, MicroStrategy's stock price (MSTR) has skyrocketed by over 1,540%, significantly outperforming the S&P 500, which has risen by 111% during the same period.

Saylor emphasized MSTR's close relationship with Bitcoin, outlining key principles that include: buying and holding Bitcoin indefinitely, intelligently leveraging MSTR, and issuing fixed income securities backed by Bitcoin.

Last week, Saylor also shocked the financial world by announcing plans to raise $42 billion over the next three years to acquire additional Bitcoin for MicroStrategy.

(This article was originally published on U.Today)