Key Insights
- Michael Saylor has sent out several cryptic and straightforward posts throughout the week.
- In one of these posts, he emphasized that Bitcoin could be headed not only for the moon, but for Mars.
- Senator Cynthia Lummis has also been made Chair of the Senate Banking Subcommittee on Digital Assets.
- This happened while Bitcoin shot up to the $105,000 price level amid a 50% increase in trading volume.
Michael Saylor, the Executive Chairman of MicroStrategy is in the news again this week.
His latest post on X (formerly Twitter) has sparked yet another discussion about Bitcoin’s future.
Could there be a link between Saylor’s bullish stance and the ongoing political developments all around the world?
How is Bitcoin reacting so far?
Michael Saylor’s Bold Declaration
Saylor took to X on Thursday to send a cryptic post.
This post featured an AI generated image of himself in a Martian landscape, to which Saylor proclaimed “We are going to Mars.”
This post, which he shared with his millions of followers, depicts Saylor as a spaceman in a Bitcoin themed setting.
So far, the post has caused a stir on X, along with widespread enthusiasm in the crypto community.
Many are now interpreting this as a sign of incoming bullish momentum.
Source: Twitter
Interestingly, this post from Saylor coincided with some notable political events in the United States.
For example, pro-crypto senator, Cynthia Lummis recently assumed the role of Chair of the Senate Banking Subcommittee on Digital Assets.
This is some good news, because Lummis has been a vocal supporter of Bitcoin and the US establishing a strategic reserve.
Source: Twitter
Adding to this optimism, Saylor also shared a video of former president Donald Trump declaring his vision of the US as the “world capital of crypto.”
So far, this alignment of politics and crypto has shown that it might be Bitcoin’s time to shine.
Bitcoin’s Recent Market Performance
Bitcoin’s market performance has closely mirrored the bullish sentiment in the industry.
The cryptocurrency recently declined earlier in the week, to the $101,000 price level.
However, over the last few days, the cryptocurrency has increased its standing to the $105,300 zone—an impressive 4% price increase in a few hours.
The cryptocurrency’s trading volume has also shot up by 50% over the last day between Thursday and Friday, showing that investors are highly interested.
Source: CoinMarketCap
At the same time, the company continues to solidify its bItcoin holdings with more and more purchases.
The company recently announced another 6,120 BTC gain for its shareholders, worth around $642.6 million at the time of writing, at a rate of $105,000 per Bitcoin.
Earlier in the week, the company also bought an impressive $1.1 billion worth of Bitcoin, bringing its total holdings to 461,000 BTC.
Overall, The crypto community has added its own meaning to Saylor’s Martian-themed post, after drawing parallels with Elon Musk’s space ambitions.
Musk’s plans to send uncrewed rockets to Mars within the next two years resonate with Saylor’s metaphorical vision of Bitcoin “flying to mars”.