Michael Saylor News

While some believe that Ethereum’s upcoming shift to proof-of-stake (PoS) may push the platform to eventually surpass Bitcoin (BTC), others take this opportunity to make snarky remarks on Twitter, triggering a rebuttal from Vitalik Buterin, a co-founder of Ethereum. 

The Ethereum (ETH) network moved one step closer to completing its transition to proof-of-stake (PoS) this week after the successful completion of its second-to-last major Merge trial on the Sepolia public test network.

MicroStrategy CEO and Bitcoin (BTC) bull Michael Saylor said that Ethereum (ETH) is ‘obviously’ a security as he doubled down on labeling BTC as the only commodity in the crypto sector.

Ethereum [ETH]’s price action has seen some significant upside in the last couple of days as FUD and bearish pressure subside. However, unforeseen risks and black swan events might extend its downside.

Since the closure of his bank in Puerto Rico, Peter Schiff has been at the receiving end of Bitcoin (BTC) proponents, reminding him this wouldn’t have happened if he was using BTC.

Bitcoin and Ethereum were up marginally. Polkadot was among the top losers. The global cryptocurrency market cap was trading at $865.22 billion mark, dropping more than half a per cent in the last 24 hours. However, total cryptocurrency trading volume jumped almost a per cent to $40.62 billion.

MicroStrategy Inc. began buying Bitcoin in bulk in the summer of 2020, CEO Michael Saylor said it was because inflation would make cash worthless. The crypto pile he has since accumulated was worth $3.4 billion less at the end of the second quarter than the previous one. Technically, the decline is yet another paper loss for the enterprise software maker under US accounting rules until any of the Bitcoin is sold, but there are consequences. MicroStrategy will likely need to take a substantial impairment charge when it reports second-quarter results. And for shareholders, the stock tumbled 66% in the quarter ended Thursday, outpacing Bitcoin’s 59% decline. Saylor has downplayed any concerns, sticking to the strategy and adding to his stockpile last quarter as Bitcoin experienced its biggest price drop in more than a decade. MicroStrategy noted at the end of June that it would report results as normal later in the coming quarter even though Wall Street regulators typically require companies to flag big losses much earlier.

Coinbase has long been considered an important bellwether of the cryptocurrency market. Last year, when the company was expanding its workforce, adding institutional clients and issuing stock, crypto prices were hitting record highs. Now, in the depths of crypto winter, Coinbase finds itself slashing a fifth of its workforce, losing retail trading volume and contending with downgrades of its credit and stock.

Not minding the losses accrued thus far, MicroStrategy Incorporated has continued to buy the dip, the latest of which is 480 units of Bitcoin (BTC) worth approximately $10 million.

Business intelligence firm MicroStrategy has added to its Bitcoin (BTC) holdings, reaffirming CEO Michael Saylor’s bullish outlook on the digital asset despite its recent struggles. 

Michael Saylor’s company MicroStrategy has taken advantage of the currently low bitcoin (BTC) price by adding another BTC 480 to its coffers.

These are fraught times for the cryptocurrency and blockchain sector, so it isn’t surprising that industry proponents might seize upon any promising news to help charge flagging markets. A Reuters report out of Uganda last week about a massive gold ore discovery supplied just this kind of fuel.

Bitcoin (BTC) is “a lifeboat,” says Michael Saylor, while  Binance'sChangpeng Zhao (CZ) warns that BTC could still stay below its all-time high for two years, and an adjunct professor of law calls the reports about Bitcoin’s death “exaggerated.”

A 60% plunge of Voyager Digital’s (VYGVF) share price since it disclosed its Three Arrows Capital (3AC) exposure has been accompanied by further falls in crypto industry stocks.

MicroStrategy’s bank account now holds 129,218 Bitcoins. In fact, some believe the firm may be obliged to liquidate or pledge a significant portion of its Bitcoin reserves as collateral as a result of Bitcoin’s price fall.

The bitcoin (BTC) and broader crypto market failed to recover higher and returned to the selloff on Thursday, after a brief rally following the US Federal Reserve’s (Fed) announcement on Wednesday that it had raised rates by 75 basis points, its largest rate hike since 1994.

In light of the recent fragility in the decentralized finance (DeFi) sector, Bitcoin (BTC) maximalist and MicroStrategy CEO Michael Saylor feels that Bitcoin and the Lightning network can come to the rescue of the DeFi market.

MicroStrategy scotches 'margin call' fears, says can withstand volatility

Bitcoin (BTC) megahodler MicroStrategy can ride out further BTC price declines, even if it falls to just $3,500, its CEO confirms.

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Bitcoin (BTC) lost the $28,000 support on June 12 following worsening macroeconomic conditions. The United States Treasury 2-year note yield closed on June 10 at 3.10%, its highest level since December 2007. This shows that traders are demanding higher rates to hold their debt instruments and expect inflation to remain a persistent challenge.