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MicroStrategy's Michael Saylor Reacts as Bitcoin (BTC) Price Hits $71,000

source-logo  u.today 21 May 2024 15:08, UTC

Bitcoin (BTC), the first and largest cryptocurrency by market cap, neared $72,000 during the Tuesday trading session, reaching intraday highs of $71,980. The largest cryptocurrency asset extended its surge from Monday's session, when its price increased from $66,057 to $71,560, its highest level since early April.

Crypto prices rose on hints of progress toward U.S. approval of exchange-traded funds investing directly in Ethereum, a departure from a more pessimistic outlook last week.

The market-moving ETF speculation is reminiscent of the investor excitement that greeted comparable U.S. Bitcoin ETFs, whose January debut fueled a rally in the largest digital asset to a record high.

Amid this euphoria, Michael Saylor, the chairman of MicroStrategy, took to X with an intriguing yet compelling message: "Escape the Matrix." This tweet comes at a time when the crypto market is witnessing an epic rally, with Bitcoin nearing its current all-time highs.

Escape the Matrix. #Bitcoin pic.twitter.com/CDXkfUF8oQ

— Michael Saylor⚡️ (@saylor) May 21, 2024

At the time of writing, BTC was up 6.28% in the last 24 hours to 6.28% and up 16% in the last seven days. At current prices, Bitcoin is just 3.45% away from its all-time high of $73,350, reached in mid-March.

Literally, escaping the matrix means shedding all forms of outside influence to determine what you truly want deep in your soul.

Saylor's call to "Escape the Matrix" resonates with the growing positive sentiment on the crypto market. The "matrix" could reflect the previously imposed limitations, including external influences.

Bitcoin's price has been largely influenced by macroeconomic developments in recent weeks, dropping to a low of $56,903 on May 2 before recovering.

While Saylor's tweet remains subject to interpretation, "Escape the Matrix" could be more than just a catchphrase; it could be a call to action for individuals who want to push the bounds of what seems conceivable.