Bitcoin (BTC) has plummeted dramatically today and the crypto world is turned upside down. Just about all major exchanges and platforms could not handle the extreme online crowds. Busyness that accompanied the panic that reigned today. That panic also caused the largest BTC inflow ever on Binance.
Will this big sale mean the end for bitcoin or is there still confidence to be found? After the real panic had subsided somewhat, the latter is still the case at the moment, as appears after a round on Twitter.
Elon Musk of course spoke up today and suggested a cryptic tweet that Tesla allegedly has ‘diamond hands’. It therefore seems that the South African’s company will keep its BTC in possession even after this dump.
Michael Saylor, like Musk, spoken out about it bitcoin, retains its entire portfolio, as can be seen in the tweet below. All companies in his possession now collectively have a whopping 111,000 BTC on the balance sheet.
Saylor is CEO of MicroStrategy and has expressed his confidence in bitcoin on several occasions. Something that was supported, among other things, by an investment of $ 1 billion last year.
Entities I control have now acquired 111,000 #BTC and have not sold a single satoshi. #Bitcoin Forever.
— Michael Saylor (@michael_saylor) May 19, 2021
Yesterday it was announced that Saylor had already purchased a new stock of bitcoin. At the time, it seemed like a good entry point because BTC was already ‘dipping’ at the time, but that was hit hard today.
Nevertheless, it is a good sign for the future course of bitcoin that people like Saylor keep buying the dip time and time again. This will not happen when confidence in the digital currency is gone, and that should give citizens courage.
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