As the biggest cryptocurrency, Bitcoin is always in the news. There will always be something new to say about it, and with the price fluctuations it has seen since the start of the year, there is no shortage of Bitcoin talk.

The latest Bitcoin news has come from Mr Saylor, the founder and former CEO of Microstrategy. He believes that Bitcoin is only headed one way, and that way is up. 

More: What's Bad for the U.S. Economy Might Be Great for Bitcoin

On August, 20 at his X account post , Saylor posted a picture of himself doing some calculations on a chalkboard and then added the caption, “By my calculations, Bitcoin is going up forever.”

However, as strong as the claim might seem, especially with the Hollywood-level production of the post, the claim may not be unfounded.

Saylor’s comments coincided with 60% of top US hedge funds gaining Bitcoin exposure in the first half of 2024. This increased institutional investment has been very helpful in shooting up the prices of not just Bitcoin ETFs but also Bitcoin. 

The charts also support Saylor’s claim. On the charts, Bitcoin has also shown a high likelihood and strong intention of going higher after it wicked above the 4-hour resistance. The 3-day chart also shows a bullish double bottom with a significant candle indicating strong upward momentum.

So far, all signs point to Bitcoin going up, and Saylor seems to be doubling down on his claim in a dramatic fashion. In another interesting post on his X, he shared a photo of a vintage scene with a big sign that read “For Sale 1 BTC.” 

In the caption, he wrote, “Bitcoin: 20% off. Sale ends soon.” The post was vague, but many people have interpreted it in many different ways. However, the popular consensus seems to be that the current price of Bitcoin is relatively low, so investors should buy more Bitcoin before the price rises again. 

Michael Saylor has been no slack when it comes to buying Bitcoin. He and his company MicroStrategy have been buying up lots of Bitcoin over the years, and earlier this month, he revealed that he personally owns more than $1 billion worth of Bitcoin.

MicroStrategy also followed in its founder's footsteps and added an additional 169 BTC, worth over $11 million, to its already impressive Bitcoin stash. Saylor himself has said that they are “always buying Bitcoin” because it is a good long-term investment.

While he might be right about that, there is also the question of Bitcoin’s recent volatility troubles. But Michael Saylor has an answer to that already. According to him, the volatility is just another “feature” of Bitcoin, not a "bug." He said, “The volatility [of Bitcoin] creates tens of billions of dollars of credit and liquidity at all times everywhere, to everyone in the world, in the short term.”

Related: Whales in Action: Optimistic Outlook for Bitcoin Despite Market Volatility

It is important that any potential Bitcoin investor do their personal research, but for Micheal Saylor, Bitcoin is a sure deal, and nothing, not even the recent price drops, will change his mind.

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