Global Geopolitical Chaos, a Springboard for Bitcoin - Michael Saylor

Michael Saylor, Chairman of MicroStrategy, believes that the current geopolitical chaos is beneficial for Bitcoin, despite the heavy losses incurred by his company. A perspective that is not unanimously agreed upon on social media.

A BTC Collapse Amidst Iran-Israel Tensions

The Bitcoin price plunged more than 10% in 24 hours on Saturday, dropping from $68,000 to $60,000. Analysts attribute this sharp fall to rising tensions between Iran and Israel. The consequences are severe for investors, with more than $1.2 billion of long positions liquidated, a 15-year record according to WhaleWire.

In this context, Michael Saylor shared on X (formerly Twitter) his viewpoint that “chaos is good for Bitcoin”. A statement that comes even as MicroStrategy, which holds 214,245 BTC, faced over $1.5 billion in losses in 24 hours. Nevertheless, Saylor’s company maintains a substantial profit of $6.26 billion on its Bitcoin holdings.

Bitcoin, a Hedge Against Chaos?

Michael Saylor’s opinion has generated mixed reactions within the crypto community. While some find his comments inappropriate given the current international tensions, others share his vision of Bitcoin as a “hedge against chaos”.

Despite the sharp fall in price, MicroStrategy’s Bitcoin investment strategy remains profitable so far. With an average purchase price of $35,372 per BTC, the company reports an unrealized gain of more than $6.26 billion on its portfolio. Only its two most recent acquisitions, made above $67,000, are currently in the red.

Michael Saylor’s stance raises a fundamental question: Can Bitcoin truly serve as a safe haven in times of crisis? The upcoming weeks, which promise to be tumultuous both in the crypto markets with the approach of the Bitcoin Halving and on the geopolitical scene with tensions in the Middle East, may provide some answers. One thing is certain, the debate is far from over, and opinions will continue to clash as events unfold.