Michael Saylor Breaks Silence on Bitcoin Dropping Below $68,000

Vocal Bitcoin evangelist Michael Saylor reacts as Bitcoin plunges under $68,000 mark

Prominent Bitcoin advocate and the co-founder of the MicroStrategy business intelligence giant Michael Saylor has published a tweet about Bitcoin as if to show confidence in the largest cryptocurrency by market capitalization value as it has suddenly lost the $68,000 price level overnight.

Saylor’s tweet contains an AI-generated image with an image of a physical Bitcoin and bees, stating: “Bitcoin is a Swarm of Cyber Hornets.”

Certain macroeconomic factors have influenced this sudden Bitcoin price decline. The personal consumption expenditures (PCE) price index faced a small rise of 0.25% in April, after a 12 month change of 2.75% — that proved to be a three-year low for this metric.

Even though this was in line with analysts’ expectations, Bitcoin still went down by 2.14% in three consecutive red candles, from $68,608 to the $67,712 level. Today, a small rebound took place, pushing the largest crypto up slightly.

As reported by U.Today, major Japan-based cryptocurrency exchange DMM Bitcoin has faced a massive hack with more than $300 million worth of crypto taken away by anonymous hackers — 4,502 BTC.

According to data provided by Chainalysis, this was the largest hack of a crypto trading platform since 2022 and the seventh biggest one in history of the crypto industry.

About the author

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets.

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.