Is Bitcoin’s Success Random or Calculated? Michael Saylor Exposed The Hard Truth
The world’s most popular cryptocurrency, Bitcoin, has its share of lovers and haters. However, with the rising popularity of this cryptocurrency, the world is turning in its favor. This has happened, especially with the continuous profits and rising values in the market. Talking of profits, the BTC hit a new milestone of surging to as high as $73K just a few months back, which is much more impressive after analyzing its price history. With this, Microstrategy, the analytics software company, has turned in its support. They designated a significant portion of the company funds to buy this crypto. More importantly, Michael Saylor, the company CEO, is the biggest brand ambassador of this digital asset.
Michael Saylor Reveals The Calculative Side of Bitcoin
The Bitcoin price has been struggling for the past few days following a market crash. Even at the time of writing, BTC is trading at $59.2K after an almost 8% loss over the week. With this, many have questioned the growth potential of Bitcoin and how it has achieved this much when it is struggling at such a prime time. This question has been among many, and some have claimed it to be a random chance. But Michael Saylor has come in front to reveal the harsh truth behind the success of this cryptocurrency.
Michael took the X platform to explain how Bitcoin is a calculative success rather than a random success. In the post, he presented the success formula, including all the important metrics that have pushed Bitcoin to such great lengths of success. Based on the post, 32 Bitcoin halving will occur, 210,000 is the total supply, and 50 is the count of the new token issues per block, and solving this with the factors of already passed halving gave the success formula of BTC. Putting these all together gives the perfect explanation of how this token works. More importantly, how greatly it has been composed to become a super currency.
Success isn’t random—it’s calculated. #Bitcoin pic.twitter.com/6dUl37NK6y
— Michael Saylor (@saylor) August 30, 2024
Michael Saylor has presented a clear picture of Bitcoin’s popularity, indicating why the company has been obsessed with this asset. MicroStrategy began to HODL BTC in 2020, and within four years, their BTC holding has grown to 226,500. Even a Japanese company, Metaplanet buying more Bitcoin, competing with Microstrategy in this race. However, its popularity is not limited to normal investors only as countries like El Salvador have endorsed this token, holding around 5,748.76 BTC in their treasure, which is worth more than $340,687,039. Additionally, El Salvador has recently introduced the Bitcoin investment strategy with a certification offering to revolutionize its ongoing investments.
Bitcoin Became Superpower In The Market
Bitcoin was launched in 2009 but took many years before gaining popularity. However, once the concept of decentralization went out, it was unstoppable, with minor declines here and there. The Bitcoin creator, Satoshi Nakamoto, has never introduced himself to the world but is still the biggest holder. With his calculative programming, it has become the most popular crypto all around the world, carrying almost half of the total market capitalization with $1.1 Trillion on record. Moreover, $24.7 Billion worth of trades take place with this crypto.
Additionally, Bitcoin ETFs have carried it to the next level. There are around 36 US-based ETFs alone, handling millions of trades daily. Out of which, Blackrock IBIT has been dominating the industry, and many analysts believe Blackrock ETF to overtake Satoshi in terms of Bitcoin holdings.
Even the pro-haters, who opposed this digital asset for years, have become supporters, including the US ex-president Donald Trump. With the Presidential elections getting closer, Donald Trump has declared himself as crypto President and promised the development of the industry. With this, Bitcoin has covered a long journey and a lot more to cover with the introduction of proper crypto regulations, focusing on the industry’s development.
Final Thoughts
After 15 years of creation, Michael Saylor has finally revealed the formula behind BTC’s success in the market. In a recent X post, he declared how Bitcoin has bagged calculative success instead of the random that many claim. Michael’s tweet came at the perfect time, as the token has been struggling in the current market. However, no immediate jump in the Bitcoin price is noticeable. But despite that, revealing the calculative thinking of Satoshi Nakamoto behind the creation of this crypto has made many question how big of potential this token still holds.
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