Michael Saylor Breaks Silence on Altcoin Rally: 'Stay Focused on Bitcoin'

Michael Saylor, Bitcoin (BTC) mega accumulator and advocate, has dropped a powerful message as several altcoins eye an all-time high ($ATH). Saylor took to the social media platform X to express his thoughts, as many investors in the cryptocurrency space become excited about the ongoing bullish momentum.

Bitcoin price soars above $124,000

In a post depicting Saylor as a super hero, with a background characterized by "chaos," the Bitcoin advocate’s message was simple and clear: "Stay focused on Bitcoin."

Saylor is suggesting to his followers and fellow Bitcoin maximalists not to be swayed by short-term trends. He might be implying that the ongoing bullish rally with altcoins should not distract investors from the Bitcoin prospects.

The Bitcoin advocate has never hidden his bias for the flagship cryptocurrency and has maintained a long-term perspective over short-term trends. This has fueled his committed accumulation of assets using Strategy, his cofounded business intelligence firm.

Interestingly, in the last 24 hours, Bitcoin hit a new $ATH of $124,128, making it bigger than Alphabet, which is the parent company of Google. The spike in value has triggered positive anticipation among investors, with some targeting $130,000 before the end of August.

Ethereum and $XRP close in on record highs

As of press time, Bitcoin has suffered a slight correction but is still trading up by 1.79% at $121,880.94. The trading volume has also surged by a massive 35.17% to $99.45 billion.

Meanwhile, Ethereum, the leading altcoin, is trading at $4,734.49. This leaves it less than 4% away from its $ATH of $4,891.70, which it set about four years ago in November 2021. Similarly, the $XRP price was exchanging hands at $3.23 and has about 15% to climb to flip its $ATH of $3.84.

On the broader cryptocurrency market, Bitcoin dominance has dropped by about 6% hence the rally seen among altcoins is the last 48 hours.