This morning the financial markets began with a manifesto from Michael Saylor. Against the backdrop of red charts and panic across social media, the founder of MicroStrategy published a concise post stating that Bitcoin is the ultimate hedge against chaos.
But is the market ready to accept this belief now, when chaos feels more real than ever?
Metals fall as Bitcoin faces heat
The correlation between assets and crypto assets is confusing, even for experienced market participants. Traditional safe havens are failing to meet expectations amid the inflation shock and the spike in oil prices. Silver suffered a dramatic collapse of 10.23%, gold declined by 5.47% and Bitcoin — despite its status of protection against chaos promoted by Saylor — is also under pressure.
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Today, the price of Bitcoin dropped to $69,190, losing more than 8.5% over the past 24 hours. Just yesterday, ahead of the FOMC meeting, Bitcoin had reached the $76,000 level. Investors are rushing into the U.S. dollar, ignoring virtually all other assets due to uncertainty in policy and rising geopolitical tensions.
Bitcoin price chart with Michael Saylor’s post, Source: TradingViewWhile the crowd hesitates, Saylor continues his aggressive play. MicroStrategy’s reserves remain at 761,068 BTC. The average purchase price stands at $75,696, and at the current market price, the Strategy portfolio is in the red with an unrealized loss of 8.44%.
Saylor remains committed to his strategy. With MicroStrategy’s mNAV trading at a 0.851 discount, he sees not a collapse but a rare entry opportunity and protection against chaos.
Source: https://u.today/bitcoin-as-ultimate-hedge-saylor-doubles-down-while-btc-hits-69200-amid-gold-and-silvers-collapse
