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MicroStrategy’s Michael Saylor Says ‘Chaos is Good for Bitcoin’ Despite $1.5B Loss

Published 04/14/2024, 10:03 PM
Updated 04/14/2024, 10:15 PM
© Reuters. MicroStrategy’s Michael Saylor Says ‘Chaos is Good for Bitcoin’ Despite $1.5B Loss
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  • MicroStrategy chairman Michael Saylor argues that chaos is good for Bitcoin.
  • BTC crashed to around $60K amid escalating tensions between Iran and Israel.
  • MicroStrategy lost over $1.5 billion in the last 24 hours following the crash.

Michael Saylor, the founder and chairman of MicroStrategy, has expressed his view that “chaos is good for Bitcoin.” Saylor shared this perspective in a post on X on Saturday as Bitcoin crashed to the $60K threshold.

Notably, Bitcoin collapsed by over 10% in the last 24 hours from about $68K, sinking to the $60K range. Pundits have attributed the dramatic fall to the escalating global tensions, particularly those between Iran and Israel.

Bitcoin’s decline has had significant implications for leverage traders, especially those who opened long positions for BTC. According to WhaleWire, over $1.2 billion in Bitcoin longs alone were liquidated over the last 24 hours. WhaleWire estimated that the number set a new record as Bitcoin bulls have not experienced such liquidation in the last 15 years.

Despite this significant financial implication, MicroStrategy’s…

The post MicroStrategy’s Michael Saylor Says ‘Chaos is Good for Bitcoin’ Despite $1.5B Loss appeared first on Coin Edition.

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