KEY POINTS
- One user said Saylor should "refresh" Bitcoin's price since he said it was "refreshing"
- Another user noted that investing in Bitcoin during an unstable time "is like a gamble"
- Investing in MicroStrategy stocks is more refreshing, one user argued
MicroStrategy founder and executive chairman Michael Saylor is faced with a challenge to prove his Wednesday statement that "Bitcoin is refreshing" as one user said he should "refresh" the price, considering how the world's largest digital asset by market cap has been down by around $10,000 since it hit an all-time high of $73,000 last month.
Many users agreed with Saylor, saying the digital coin was indeed a refreshing "alternative" to other traditional finance products. One user noted that Bitcoin had a restoring effect "at a time of heavy manipulation and corruption."
#Bitcoin is Refreshing. pic.twitter.com/RoU2JsiJB7
— Michael Saylor⚡️ (@saylor) April 24, 2024
A refreshing alternative to traditional finance, indeed. 🌊
— Crypto Ashley (@ashleyxcrypto) April 24, 2024
The refresher the world needed at a time of heavy manipulation and corruption 👌🏻
— ₿itcoin Messenger (@BTC_Messenger) April 24, 2024
However, not everyone on the comments section of Saylor's post agreed. One user said it was "ironic because it's impossible" to purchase a drink using Bitcoin. Another user said owning shares of MicroStrategy was "even more refreshing."
Owning your company's stock is even more refreshing.
— Morrill Talmage Moorehead, MD (@MTalmageMooreh1) April 24, 2024
User @CRYPT38 on X (formerly Twitter) was more straightforward, considering how Bitcoin prices have been down significantly since it posted a new all-time high last month. "Then refresh the price and send us to 100K chad," the user said.
Then refresh the price and send us to 100K chad.
— CRYPT 38™️ (@CRYPT38) April 24, 2024
Another user pointed out that it will be difficult for BTC to continue an uptrend. She further noted that while Bitcoin can possibly hit new highs, the current state of the crypto market is "very unstable" and betting on BTC's possible rise "is like a gamble now." One user had a similar view of the matter, saying Bitcoin being refreshing depends on profits.
I think it is difficult for BTC to continue to rise, and BTC will be halved at an unknown time.
— Audrey (@Audrey900716) April 24, 2024
Yes, it's possible to reach the heights you mentioned. But now the crypto market is also very unstable in my opinion. It is like a gamble now. We can't guess what the future will be like
— Audrey (@Audrey900716) April 24, 2024
The increasing pessimism in the crypto community has been apparent since Saylor wrote on X that "chaos is good for Bitcoin" after Iran launched its first direct attacks toward Israel on April 13. At the time, many digital asset users called out the tech mogul for his "insensitive" remarks.
Following the Iranian aerial rampage across Israeli skies, Bitcoin saw a sharp drop sliding 7.7%, marking its biggest drop since March 2023.
Saylor was also criticized two days before the April 20 halving when he urged investors to "elevate" their thinking by investing in the world's first decentralized cryptocurrency. Some users suggested the tech executive was downplaying the fact that BTC prices were down. "Bitcoin is collapsing. Watch your step," one X user told the tech titan.
Meanwhile, Saylor seems unfazed by the criticism and growing pessimism among other crypto users. Being a Bitcoin maximalist, he has only made positive statements about the digital asset and his company has been stacking up on its stash that now boasts over 214,000 Bitcoins.
As of writing, the popular cryptocurrency is trading between $63,000 and $64,000.
