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Bitcoin Bull Michael Saylor Defends BTC Volatility

Bitcoin Bull Michael Saylor Defends BTC Volatility

Michael Saylor addresses Bitcoin's volatility, arguing it is a feature that enhances its long-term value as a capital asset.

Joe G & Money Talks
August 09, 2024 • Estimated Reading Time: 7 minutes

What we will talk about today...

Trump Token Crashes 95% After Son Denies Ties

Smart Whale Buys Billions of SHIB Post-Crash

Bitcoin Bull Michael Saylor Defends BTC Volatility

The Trump-themed token RTR plummeted 95% after Eric Trump denied any connection to it.

We’re about to shake up the crypto worldwith something HUGE.
Decentralized finance is the future—don’t get left behind. #Crypto#DeFi#BeDeFiant
— Donald Trump Jr. (@DonaldJTrumpJr)
12:39 PM • Aug 7, 2024

Eric - if you care about your dad’s chances to win this election, please for the love of all that is good don’t launch a token.
— K A L E O (@CryptoKaleo)
6:46 PM • Aug 8, 2024

Please stop it. This is a massive mistake.
— Ben Werkman (@BenWerkman)
6:15 PM • Aug 8, 2024

Main Points:
- Massive Price Drop: RTR token crashes 95% after disconnection from Trump family.
- Initial Surge: Price initially spiked following false rumors of Trump family involvement.
- Eric Trump’s Denial: Firm denial caused the token to plummet.
- Crypto Community Reaction: Warnings against launching a Trump-related token.
- Trump Jr.'s DeFi Project: Trump Jr. hints at launching a new DeFi platform.
Detailed Insights:
- Massive Price Drop: The Donald Trump-themed cryptocurrency, Restore the Republic (RTR), dropped 95% in value after it was revealed that the Trump family had no connection to it. The token now trades at $0.0091, down from a peak of $0.1490.
- Initial Surge: RTR initially surged following a now-deleted post from Students for Trump chair Ryan Fournier, which falsely suggested it was an official Trump token.
- Eric Trump’s Denial: Eric Trump’s firm denial of any involvement with the token caused its value to plummet.
- Crypto Community Reaction: The crypto community, including prominent traders, urged against launching a Trump-related token, predicting negative consequences.
- Trump Jr.'s DeFi Project: Donald Trump Jr. revealed plans to launch a decentralized finance platform aimed at addressing inequality in banking access, though details remain scarce.

Smart Whale Buys Billions of SHIB Post-Crash

A significant SHIB whale purchased 220 billion SHIB tokens following a price crash, signaling confidence in the meme coin’s future.

Main Points:
- SHIB Price Crash: SHIB fell to $0.00001088, its lowest in six months.
- Whale Accumulation: Whale bought 220 billion SHIB worth $3 million.
- Institutional Involvement: Tokens sourced from Coinbase Prime Custody.
- Market Recovery: SHIB price recovered 22.5% after the crash.
- Ongoing Volatility: SHIB remains down 16.2% over the last week.
Detailed Insights:
- SHIB Price Crash: Shiba Inu (SHIB) experienced a sharp decline, hitting $0.00001088, its lowest price in over six months due to broader market tensions.
- Whale Accumulation: On-chain data revealed that a whale, identified by address “0x4B5C,” purchased 220.34 billion SHIB tokens, worth approximately $3 million, over the past 48 hours.
- Institutional Involvement: The whale's SHIB tokens originated from Coinbase Prime Custody, suggesting that the buyer might be an institutional investor or a high-net-worth individual.
- Market Recovery: After bottoming out at $0.000011, SHIB rebounded to $0.00001333, marking a 22.5% recovery from its recent low.
- Ongoing Volatility: Despite the recovery, SHIB has still been down 16.2% over the past seven days, highlighting the ongoing volatility in the meme coin market.

₿itcoin reached $60,953. +4.86%

♢Ethereum reached $2,671. +8.08%

Bitcoin Bull Michael Saylor Defends BTC Volatility

Michael Saylor addresses Bitcoin's volatility, arguing it is a feature that enhances its long-term value as a capital asset.

Michael Saylor: "We're always buying #Bitcoin. Bitcoin volatility is a feature, it's not a bug."
— TFTC (@TFTC21)
3:39 PM • Aug 7, 2024

Main Points:
- Volatility as a Feature: Saylor views Bitcoin's volatility as a strength, not a flaw.
- Superior Asset: Bitcoin is deemed superior to physical and financial capital.
- Long-Term Value: Saylor emphasizes Bitcoin's potential for generational wealth.
- Investment Timing: Saylor argues there is never a bad time to invest in BTC.
- MicroStrategy’s Strategy: The Firm buys BTC whenever capital is available.
Detailed Insights:
- Volatility as a Feature: Michael Saylor, co-founder of MicroStrategy, argues that Bitcoin’s volatility is a fundamental feature, not a bug, in a recent Bloomberg interview. He believes volatility drives short-term market reactions but strengthens Bitcoin's long-term performance.
- Superior Asset: Saylor describes Bitcoin as superior to physical and financial capital, emphasizing its ability to offer financial freedom from counterparties, making it a durable store of value.
- Long-Term Value: Saylor believes Bitcoin’s decentralized nature positions it as a critical asset for both retail and institutional investors, capable of serving as generational wealth despite its price fluctuations.
- Investment Timing: Comparing Bitcoin to Manhattan real estate, Saylor asserts that there is never a bad time to buy BTC. He encourages understanding market trends but stresses that Bitcoin’s long-term value makes it a wise investment at any time.
- MicroStrategy’s Strategy: Saylor highlighted that MicroStrategy continues to acquire Bitcoin whenever it has the capital, reinforcing the firm's belief in Bitcoin’s enduring value.