Michael Saylor, the vocal proponent and cofounder of MicroStrategy, recently took to X platform (formerly known as Twitter) to share a bullish statement about Bitcoin. His tweet, which featured an image of Homer Simpson expressing his bullishness on Bitcoin, caught the attention of the community.
At the time of Saylor’s tweet, Bitcoin was trading around $64,200, slightly down from its recent high of $65,800. However, prior to this drop, Bitcoin had seen an impressive price increase of nearly 16% between July 12 and July 17, climbing from $56,880 to $65,910.
Analysis of Mt. Gox Creditors’ Plans for Bitcoin
A recent tweet from Chinese blockchain journalist Colin Wu shed light on a poll conducted on Reddit among holders who had received their Bitcoin compensation from the defunct Mt. Gox exchange. The poll revealed that out of the 460 participants, 260 had no plans to sell any of their recovered Bitcoin, while 68 intended to sell 1%-25% and 88 planned to sell 100%.
Bitcoin maximalist and CEO of Jan3, Samson Mow, speculated that only about 20% of the $6 billion worth of Bitcoin sent by Mt. Gox for compensation would be sold on the market. The rest, he believes, will be stored in cold wallets for long-term safekeeping.
Overall, these developments in the Bitcoin market, along with influential figures like Michael Saylor expressing bullish sentiments, indicate a positive outlook for the cryptocurrency. Investors and enthusiasts should closely monitor these trends to make informed decisions about their own investments.