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U.Today - Bitcoin evangelist Michael Saylor, cofounder and executive chairman of Strategy in charge of its BTC course, has addressed the global community to comment on the current 7.11% Bitcoin collapse.
In his four-word tweet, Saylor hints that now there is a great opportunity to buy the world’s leading cryptocurrency, Bitcoin, cheaply. “Bitcoin is on sale,” he tweeted, replacing the “s” with the U.S. dollar sign, $.
Bitcoin crashes 7.11% and begins to recover
Over the past 24 hours, the price trajectory of the world’s flagship cryptocurrency, Bitcoin, has turned downward. It crashed by over 7%, losing the $95,610 level and landing at $88,820.Several factors pushed Bitcoin that low, including Donald Trump’s tariffs against Canada and Mexico, which will take effect on March 4, about a week from now. There were also massive liquidations on the crypto market and tremendous outflows from spot Bitcoin ETFs — roughly $552.5 million.
According to Forbes, another trigger was Elon Musk’s letters to federal agency employees demanding a report on their achievements over the past week. This includes Federal Reserve staff. The leader of D.O.G.E. threatens to fire those who refuse to respond. Several agencies have already filed lawsuits against this demand by Musk and the Department of Government Efficiency.
Strategy spends $1.99 billion on Bitcoin
According to a tweet issued by Michael Saylor on Monday, his company, Strategy (MicroStrategy rebranded), acquired 20,356 Bitcoins for an astounding $1.99 billion, paying roughly $97,514 for one BTC.That was done after the company announced on the same day that it had completed its $2 billion offering of senior convertible notes to institutional investors and raised $1.99 billion after deducting all the fees. The press release stated that the proceeds would be used for buying Bitcoin, and so it happened later that day. As of now, the company holds a total of 449,096 BTC worth roughly $33.1 billion at the current BTC/USD exchange rate.
Besides, Saylor announced that Strategy had achieved a Bitcoin yield of 6.9% year-to-date in 2025. He also confirmed that Strategy intends to eclipse the initial target of holding 500,000 Bitcoins. There is now less than 1,000 BTC standing between Strategy and that ambitious target.