Michael Saylor, the chairman and cofounder of MicroStrategy, has recently made a profound statement to the crypto community, urging individuals to “Learn to think in Bitcoin.” This call to action comes during a period of relative calm in the crypto market, with Bitcoin and other major assets showing little movement. Despite a slight rebound after hitting lows of $65,005, Bitcoin currently stands at $66,571, up 0.40% according to CoinMarketCap data. However, the overall market performance remains mixed, with some cryptocurrencies experiencing losses in the 24-hour timeframe.
Saylor’s journey with Bitcoin began in 2020 when he started purchasing the cryptocurrency as an inflation hedge and an alternative to holding cash. Through MicroStrategy, Saylor’s firm has accumulated a staggering $12.7 billion worth of Bitcoin, representing more than 1% of the total supply ever created. Since Saylor’s initial purchases, Bitcoin has surged by over 600%, and its value has increased by approximately 60% this year alone, fueled in part by optimism surrounding the approval of U.S. Bitcoin spot ETFs in January. Concurrently, MicroStrategy’s stock has also seen significant growth of around 135% during the same period.
Last week, MicroStrategy expanded its convertible note offering by 40% to $700 million, with intentions to allocate the funds towards acquiring more Bitcoin. While the exact context of Saylor’s tweet may be open to interpretation, the notion of “learning to think in Bitcoin” could be viewed as a prompt to adopt a broader perspective that transcends short-term market fluctuations. Alternatively, Saylor’s message may be perceived as a call to embrace the new financial landscape driven by cryptocurrencies, signaling a paradigm shift in the perception of value and wealth.
In today’s rapidly evolving digital economy, Saylor’s advocacy for adopting a Bitcoin-centric mindset serves as a powerful reminder of the transformative potential of cryptocurrencies. By encouraging individuals to align their strategic thinking with the principles of Bitcoin, Saylor is advocating for a shift towards long-term vision and resilience in the face of market volatility. As the crypto community navigates through uncertain times, the call to “learn to think in Bitcoin” resonates as a beacon of guidance towards embracing innovation and redefining traditional notions of value and wealth.