Michael Saylor Stands Firm on Bitcoin Despite Market Crash

The cryptocurrency market faced a sudden downturn on Thursday, as unexpected tariff announcements shook investor confidence.

Bitcoin, along with other major digital assets, saw a sharp drop after a surprise move by the U.S. administration caught markets off guard.

The tariff plan, unveiled during a speech at the White House Rose Garden, introduced a 10% duty on a wide range of imports, with significantly higher rates targeting nations perceived as having unfair trade practices with the U.S. Initially, markets showed a brief sign of optimism, but that faded quickly as the reality of the aggressive tariffs set in. The unexpected severity led to a wave of sell-offs, affecting both traditional financial markets and cryptocurrencies.

Bitcoin, which had been maintaining strong momentum above $87,000, suddenly fell below $82,000, marking a 5% loss. Ethereum also took a hit, dropping to just under $1,800, while XRP struggled after losing 7%, barely staying above the $2 mark. The abrupt downturn left many market participants questioning the stability of digital assets during such economic shocks.

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Amid the turmoil, MicroStrategy CEO Michael Saylor tried to calm the crypto community by tweeting, “There are no tariffs on Bitcoin.” However, his attempt to inject some positivity was met with skepticism, as many investors questioned why Bitcoin’s value was still dropping despite Saylor’s reassurances.

Even with the recent volatility, MicroStrategy has shown no signs of backing away from its Bitcoin strategy. Just a month prior, the company made headlines by acquiring 22,048 BTC for $2 billion, pushing its total Bitcoin holdings to 528,185 BTC, valued at approximately $35.63 billion. Saylor’s commitment to Bitcoin remains steadfast, reflecting his belief that the current dip is just a temporary setback in a long-term upward trajectory.

Alexander Zdravkov