Michael Saylor’s Bold Bitcoin Statement

Michael Saylor, co-founder and chairman of MicroStrategy, has made a statement that resonates with the crypto community as Bitcoin briefly touched the $65,000 mark.

Bitcoin reached $65,000 for the first time in almost three weeks, buoyed by renewed demand for U.S. exchange-traded funds amid concerns that the Federal Reserve is preparing to ease monetary policies.

The largest digital asset touched highs of $65,050 during Sunday’s trading session before retreating below $64,000 on Monday. Bitcoin’s value has increased over 10% in the past week, marking the largest gain since mid-July.

In an X post, Saylor claimed, “Four years on the Bitcoin Standard, and you would have outperformed every company in the S&P 500.” His tweet was accompanied by an image comparing MicroStrategy’s stock performance to that of other S&P 500 companies since adopting its Bitcoin strategy in August 2020. The data showcased MicroStrategy’s remarkable outperformance, exceeding notable firms such as Nvidia (NASDAQ: NVDA) and Marathon Oil (NYSE: MRO).

As one of the first public companies to adopt Bitcoin as a primary treasury reserve asset, MicroStrategy has seen significant rewards since beginning its Bitcoin journey.

Bitcoin Price Movement and Fed Chair Remarks

Fed Chair Jerome Powell recently offered hints suggesting that the central bank might lower benchmark interest rates from a more than two-decade high, which could create a more favorable liquidity backdrop for global markets.

Following Powell’s speech, Bitcoin’s price surged, reaching highs of $65,050 in Sunday’s trading session. At the time of writing, Bitcoin had fallen 0.06% in the last 24 hours, landing at $63,930.

Powell’s signal resulted in a $252 million net inflow into a group of a dozen U.S. spot Bitcoin ETFs, the largest in over a month, according to Bloomberg data. These funds have seen inflows for seven consecutive days.

This article was originally published on U.Today