Billy Markus Slams Saylor’s View on Bitcoin’s Market Volatility Blessing
TLDR
- Billy Markus criticized Michael Saylor’s praise for Bitcoin’s market volatility.
- Markus referred to Bitcoin’s market turbulence as a “shitty annoying market.”
- Michael Saylor continues to buy Bitcoin despite recent market crashes.
- Strategy’s recent Bitcoin purchase added 855 BTC during the market downturn.
- Markus has long been skeptical about the crypto market and trading culture.
Billy Markus, the co-creator of Dogecoin, recently responded to a statement by Michael Saylor, the executive chairman of Strategy. Saylor had praised the recent volatility in Bitcoin, calling it “Satoshi’s gift to the faithful,” a sentiment Markus disagreed with. Markus took to social media to express his frustration with the idea that market volatility is a blessing, criticizing the notion in his usual sarcastic style.
Saylor’s Praise for Bitcoin Volatility
On February 3, Michael Saylor shared his thoughts on the current cryptocurrency market. The Bitcoin evangelist, known for his unwavering belief in Bitcoin, referred to its market volatility as a “blessing.” He argued that this volatility is a gift from Bitcoin’s creator, Satoshi Nakamoto, for those who continue to believe in the asset.
The market had experienced significant drops, with Bitcoin’s value falling by more than 18% from January 28 to February 3. The coin reached an intra-day low of $73,000, but it has since seen some recovery, hovering around $76,000. Despite this drop, Saylor’s perspective highlights his optimism about Bitcoin’s long-term potential and its ability to withstand such turbulence.
Billy Markus’ Sarcastic Response
Billy Markus, who shares a pseudonym that echoes Satoshi Nakamoto, disagreed strongly with Saylor’s comments. In a tweet, Markus mocked the idea that Bitcoin’s volatility was a positive force, stating: “Satoshi is rewarding believers with a shitty annoying market. This is a good post.”
Markus has long been a skeptic of cryptocurrency investments and the trading culture. He has often shared his critical views on the nature of crypto markets, comparing trading to a form of mental illness. This latest tweet, however, aligns with his consistent pessimism about the future of Bitcoin and the broader market.
Strategy’s Bitcoin Purchases Amid Market Turmoil
Meanwhile, Michael Saylor’s company, Strategy, continues to invest heavily in Bitcoin. On February 2, Strategy purchased 855 Bitcoin for $75.3 million, buying the dip during the market’s downturn. The company’s Bitcoin holdings now total 713,502 BTC, worth approximately $54.3 billion.
Saylor’s company had made another large purchase in late January, acquiring 2,932 BTC for $264.1 million. Despite the market’s volatility, Saylor remains undeterred, maintaining a bullish outlook on Bitcoin’s future.
The post Billy Markus Slams Saylor’s View on Bitcoin’s Market Volatility Blessing appeared first on CoinCentral.
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