- Michael Saylor, the founder and chairman of MicroStrategy, has issued a warning to crypto investors, likening the choice of investment tools to a scene from “Indiana Jones and the Last Crusade”.
- Bitcoin, the world’s leading cryptocurrency, has seen a 5% drop in market price over the past 24 hours.
- Saylor, a known Bitcoin maximalist, suggests that Bitcoin is the only viable cryptocurrency in the market, and expects altcoins to be officially labelled as securities.
MicroStrategy’s Michael Saylor issues a stark warning to crypto investors as Bitcoin sees a 5% plunge. He suggests that Bitcoin is the only viable cryptocurrency, predicting a bleak future for altcoins.
Saylor issues “Indiana Jones warning” to crypto investors
Michael Saylor, the founder and chairman of business intelligence giant MicroStrategy, has issued a warning to crypto investors. Drawing a parallel to a scene from the classic movie “Indiana Jones and the Last Crusade”, Saylor advised investors to “Choose wisely.” As a known Bitcoin maximalist, Saylor’s warning suggests his belief that Bitcoin is the only viable cryptocurrency in the market. While he doesn’t frequently criticize altcoins, Saylor recently stated that he considers XRP, SOL, ADA, ETH and other altcoins to be unregistered securities, aligning with the SEC’s stance. He predicts that all altcoins will soon be officially labelled as securities, leaving Bitcoin as the only winner.
Bitcoin plummets by 5%
In the past 24 hours, Bitcoin has seen a significant drop, losing almost 5% of its market price. The cryptocurrency fell from $63,284 to the $60,300 zone in a single hour, under the pressure of a descending triangle pattern forming on the chart. The price has since made a marginal rebound of over 1%, with Bitcoin currently trading near the $60,920 level. Prominent crypto analyst and trader Michael van de Poppe predicts that Bitcoin could drop as low as $55,000 – $52,000 if it loses its current trading range of $61,000 – $60,000.
Conclusion
As the crypto market continues to fluctuate, investors are urged to make careful decisions. Saylor’s warning and the recent drop in Bitcoin’s price serve as reminders of the volatile nature of the market. While Bitcoin remains a popular choice, the future of altcoins remains uncertain as regulatory bodies scrutinize their status.
