Is Michael Saylor’s Bitcoin Playbook A Success Already?

By Sunil Sharma
Published February 5, 2021 Updated February 5, 2021
Best Buy In

DeFi Platform

Exchanges

Wallet

Microstrategy

Is Michael Saylor’s Bitcoin Playbook A Success Already?

By Sunil Sharma
Published February 5, 2021 Updated February 5, 2021

Key Bitcoin fundamentals like Hash rate and on-chain indicators like exchange outflows are recording significant jumps already suggesting corporations are on a Bitcoin buy spree again. Michael Saylor is putting his money where his mouth is and he owns 17,732 Bitcoins ~$664 million himself.

Key takeaways:

  • Bitcoin hash rate records new ATH and hits 179.19 EH/s
  • 11,754 Bitcoins~ $438 Million scooped off from Gemini in just an hour
  • MicroStrategy leading by example for crypto adoption

Bitcoin Hash Rate Hits New ATH while Exchange Outflow Rate Spikes

The Bitcoin bull run driven by MicroStrategy is only getting strong with thought leadership from Michael Saylor who is leading by example.

  • From an investor point of view rise in Bitcoin hash rate is healthy as it indicates more and more miners are joining Bitcoin Mining and are using efficient hardware to mine Bitcoins. Bitcoin hash rate hit an all time high last time on Oct. 18th, 2020 hitting 162.263 Million Tera hashes per second and it spiked to 179.19 EH/s today. Max Keiser who is praised by Bitcoin community for predicting correct long term Bitcoin price is also follower of “price follows Hash” theory. 

  • On-chain analyst Willy Woo shared recent exchange outflow data that reveals Bitcoin price may see a movement upwards soon. Data reveals around 11,754 Bitcoins~ $438 Million were moved from exchanges today morning in just an hour suggesting rising corporate interest driven by MicroStrategy and Michael Saylor. Data also shows that this movement is by long term investors increasing their positions who have not sold in a long time.

MicroStrategy & Michael Saylor Leading by Example for crypto adoption

MicroStrategy is vocal about Bitcoin since the beginning of Bitcoin bull run in October 2020 and have till date bought 71,079 Bitcoins ~$2.6 Billion. They are leading by example and have even made their Bitcoin playbook public for corporates who may want to invest in Bitcoin. Michael Saylor once even suggested Tesla CEO Elon Musk to move Tesla Balance sheet to Bitcoin.

And, the efforts of MicroStrategy and Michael Saylor seem to pay off.

Elon Musk post debate with Michael Saylor has shown keen interest in Bitcoin and updated his twitter bio with Bitcoin for a while. He also regretted not buying Bitcoin earlier in a club house discussion.

Elon musk Bitcoin
Elon musk Bitcoin

As described in the above Bitcoin fundamentals as well as on-chain metrics is only getting more bullish as days are progressing. MicroStrategy’s Bitcoin Playbook seems to be working and it’s just time, that institutional FOMO kicks.

advertisement

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Sunil Sharma
236 Articles
Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com

Loading Next Story