Market

Microstrategy’s Michael Saylor Shares Cryptic Bitcoin (BTC) Message on Germany

Tue, 9/07/2024 – 8:33

Cover image via youtu.be

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Michael Saylor left a cryptic message, most likely addressed to the German government, as their selling operations are placing enormous pressure on the market, practically destroying the momentum of Bitcoin and other assets. The translated message says, “Everyone gets Bitcoin at the price he deserves.”

Advertisement

The recent operations of the German government’s Bitcoin wallet are relevant to the message’s background. The German government wallet receives Bitcoin for the first two days in a row at the end of business hours. According to some analysts, this is a buyback following a sale.

BTCUSD
BTC/USDT Chart by TradingView

In reality, though, these unsold Bitcoins are being returned to the German government’s control wallet. It might seem unusual, but such a large institution might not have enough trust in exchanges and prefer self-custody. A total of 3,073 BTC were added back to the wallet yesterday, bringing the Germans’ temporary balance to 27,461, BTC or roughly $1.57 billion.

HOT Stories

Related

Former Gensler Aide Might Lobby for Crypto Firms

Another Bitcoin discarding is scheduled for today by the German government. The price of Bitcoin and the mood of the market as a whole have both been significantly impacted by this enormous selling pressure. One interpretation of Saylor’s message would be a commentary on the state of the market and how the actions of this institution affect it. It is also possible that Saylor is mocking the decision to sell such a large amount of BTC on the market in such a brutal fashion.

It is becoming difficult for Bitcoin to keep up its momentum due to the selling operations that the German government is conducting. This activity highlights the power that institutions and major holders have over the cryptocurrency market, which frequently results in volatility and abrupt price swings. Temporary price reductions brought on by large-scale sales can inspire some people to buy while inciting fear in others.

SOURCE

Leave a Comment

bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd