Michael Saylor Reacts With “Running Bitcoin” Post As BTC Approaches $60,000

Michael Saylor, founder and executive chairman of the MicroStrategy business intelligence software giant, has taken to his account on the X social media platform (widely famous as Twitter in the past) to communicate a Bitcoin message to the global cryptocurrency community.

This took place as the world’s flagship digital currency began showing signs of revival and recapturing the $60,000 level once again. Several hours prior to that, MicroStrategy made another big Bitcoin offer to its investors.

“Running Bitcoin”: Michael Saylor

Saylor published a tweet which says “Running Bitcoin” which features Saylor as a football player running during a game across the football field dresses in orange uniform, which is the colour of Bitcoin. The number on his T-shirt is 21 which refers to the 21 million coin Bitcoin supply created y Satoshi Nakamoto.

Running #Bitcoin pic.twitter.com/X2ntwYviVF

— Michael Saylor⚡️ (@saylor) September 17, 2024

Over the past few hours, Bitcoin has demonstrated a roughly 2.76% recovery, coming close to the $60,000 price level. Before that, on Monday, BTC faced a substantial decline of 4.55% as it collapsed from $60,358, hitting the $57,600 zone.

On March 14 this year, Bitcoin reached a new all-time high of $73,750. Currently, BTC is changing hands 19.55% below that level. This was the first time in Bitcoin history when it reached a new historic price peak before a closely-expected halving and not after that important event.

Several days ago, Saylor’s company announced the acquisition of another mammoth-sized Bitcoin stash of 18,300 BTC worth $1.1 billion in fiat. After this purchase MicroStrategy holds a total of 244,800 Bitcoins valued at roughly $14,675,662,080. This amount of crypto constitutes 1.17% of the total Bitcoin supply of 21 million coins. The company now holds more Bitcoin that the majority of spot BTC exchange-traded funds launched in January.

MicroStrategy to issue more debt to get more Bitcoin

As reported by U.Today earlier, Michael Saylor’s company has announced another offering of its convertible senior notes to raise an additional $700 million in order to increase its bet on the largest cryptocurrency Bitcoin.

Investors will be able to convert these notes into MSTR shares at a later date and receive interest on them. Basically, MicroStrategy begun functioning as a spot Bitcoin ETF before the actual funds of this type appeared and began trading in the market.

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