Saylor Hints at New Bitcoin Buy After Friday’s Crypto Crash

Paul
2 hours ago Updated 41 minutes ago
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Michael Saylor stands before a glowing Bitcoin symbol, symbolizing MicroStrategy’s continued accumulation strategy.

Highlights

  • Michael Saylor suggests that MicroStrategy could add to its Bitcoin holdings soon.
  • Tether CEO Paolo Ardoino reinstates long-term investment in Bitcoin and gold.
  • Bitcoin dominance rises over 60%, a signal of a new market confidence and recovery hopes.

Michael Saylor has sparked fresh speculation of another Bitcoin (BTC) purchase following the sharp crypto market downturn on Friday. The MicroStrategy founder shared a chart of his company’s Bitcoin portfolio, now worth $71.7 billion, with the caption, “Don’t Stop ₿elievin’.”

MicroStrategy is Poised for Another Bitcoin Accumulation

Saylor’s post is a possible sign that MicroStrategy could add more Bitcoin to its already massive holdings. The chart revealed that MicroStrategy currently owns 640,031 BTC, purchased at an average price of $73,983 per coin.

The overall worth of the company holdings has increased by over 51% since the initial purchase. This indicates profits of more than $24 billion. All orange dots on the graph symbolize a Bitcoin buy moment. This demonstrates that Saylor’s firm continues to buy BTC during market rallies and falls.

His latest post came as BTC price stabilized above $110,000. This follows the steep selloff that rattled altcoins and erased billions from the broader crypto market on October 10. The firm has long been known for its conviction-based accumulation model. It uses Bitcoin as a corporate treasury reserve asset rather than a short-term investment.

Tether Reaffirms Commitment to Bitcoin and Gold Investments

Meanwhile, the market received another bullish statement from Paolo Ardoino, the CEO of Tether. Responding to a quote of his earlier comments, Ardoino wrote, “Bitcoin and Gold will outlast any other currency.”

His post reaffirms Tether’s stance on allocating profits toward assets viewed as a long-term store of value. The Tether CEO added that the company will continue to invest in Bitcoin and Gold.

This implies that the company still focuses on safety and diversification in the face of increasing uncertainty in global financial markets. A similar perspective was recently shared by macro investor Raoul Pal. Pal noted that global liquidity trends remain supportive of Bitcoin and other risk assets despite recent selloffs.

Ardoino’s statement echoed Saylor’s philosophy that Bitcoin functions as “digital gold” in an era of unstable monetary policy and currency debasement.

Meanwhile, the Bitcoin dominance level has gotten stronger. BTC dominance has passed the 60.6% resistance point, per TradingView data. This is the first time it has done so in months.

It is an indication that capital is being shifted out of altcoins and into Bitcoin. Analyst CryptoPulse stated that a retest to about 62% may be a confirmation of a BTC-led recovery phase.

Advertisement
coingape google news coingape google news
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Paul Adedoyin is a crypto journalist with 4+ years experience who provides timely news, in-depth research, and insightful content to inform and empower his audience. His works have been featured on sites such as CryptoMode, CryptoNewsFlash among others. He holds a degree in Geophysics from OAU, Nigeria. When he's not writing, he loves watching soccer and reading educative journals. He can be reached via [email protected]
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.