U.Today

Amid the current drop in Bitcoin’s price, Michael Saylor, cofounder and chairman of MicroStrategy, has captured the attention in the crypto community with a thought-provoking statement. A staunch Bitcoin advocate, Saylor took to X to share his insights, stating:

“Success isn’t random—it’s calculated. Bitcoin.”

Saylor’s tweet was accompanied by an image that explained his caption. The image bore a mathematical formula derived from Bitcoin variables:

• 32: total number of halvings to ever occur
• 210,000: number of blocks between halvings
• 50: number of new Bitcoins issued per block
• 2i: cumulative number of halvings so far

The timing of Saylor’s tweet coincides with a period of volatility on the cryptocurrency market, where Bitcoin experienced a significant price drop. Several factors have contributed to this decline, including macroeconomic uncertainties and profit-taking by investors.

Several crypto assets are in the red, with Bitcoin down 3.34% in the last 24 hours to $58,167. Bitcoin experienced profit-taking after reaching highs of $61,194 in yesterday’s trading session, falling to an intraday low of $58,027 at press time after losing the $59,000 level.

Ethereum, Shiba Inu, Solana, and Chainlink posted losses between 3% and 6%. FET, TAO, WIF, and Floki experienced larger losses between 7% and 18%.

Saylor’s Message Speaks Volumes

Saylor’s message, “Success isn’t random—it’s calculated,” underscores his Bitcoin approach. MicroStrategy, Saylor’s company, started acquiring Bitcoin in August 2020 as a hedge against inflation and an alternative to cash.

MicroStrategy, led by Saylor, declared 226,500 Bitcoin holdings on July 31, up a few coins since its most recent purchase announcement in mid-June. The 226,500 Bitcoins were purchased for $8.3 billion, or an average of $36,821 per token. For Saylor and MicroStrategy, Bitcoin is not a speculative gamble but a carefully considered strategy.

Saylor recently stated that he becomes more bullish on Bitcoin with each passing day.

This article was originally published on U.Today.