June 19, 2021

Is Michael Saylor’s Bitcoin Playbook A Success Already?

3 min read

Key Bitcoin principles like Hash rate and on-chain indications like exchange outflows are recording substantial jumps currently recommending corporations are on a Bitcoin buy spree again. Michael Saylor is putting his cash where his mouth is and he owns 17,732 Bitcoins ~$664 million himself.

Secret takeaways:

  • Bitcoin hash rate records new ATH and strikes 179.19 EH/s
  • 11,754 Bitcoins ~ $438 Million scooped off from Gemini in just an hour
  • MicroStrategy leading by example for crypto adoption

Bitcoin Hash Rate Hits New ATH while Exchange Outflow Rate Spikes

The Bitcoin bull run driven by MicroStrategy is just getting strong with thought leadership from Michael Saylor who is leading by example.

  • From a financier viewpoint rise in Bitcoin hash rate is healthy as it indicates a growing number of miners are signing up with Bitcoin Mining and are utilizing effective hardware to mine Bitcoins. Bitcoin hash rate struck a perpetuity high last time on Oct. 18th, 2020 hitting 162.263 Million Tera hashes per 2nd and it spiked to 179.19 EH/s today. Max Keiser who is praised by Bitcoin neighborhood for anticipating appropriate long term Bitcoin price is also fan of “cost follows Hash” theory.

  • On-chain expert Willy Woo shared recent exchange outflow information that exposes Bitcoin price may see a motion upwards soon. Data reveals around 11,754 Bitcoins ~ $438 Million were moved from exchanges today early morning in simply an hour recommending increasing business interest driven by MicroStrategy and Michael Saylor. Information also shows that this movement is by long term financiers increasing their positions who have actually not sold in a long time.

MicroStrategy & Michael Saylor Leading by Example for crypto adoption

MicroStrategy is singing about Bitcoin given that the beginning of Bitcoin bull run in October 2020 and have till date bought 71,079 Bitcoins ~$2.6 Billion. They are leading by example and have even made their Bitcoin playbook public for corporates who might wish to purchase Bitcoin. Michael Saylor as soon as even recommended Tesla CEO Elon Musk to move Tesla Balance sheet to Bitcoin.

And, the efforts of MicroStrategy and Michael Saylor appear to pay off.

Elon Musk post debate with Michael Saylor has actually shown eager interest in Bitcoin and upgraded his twitter bio with Bitcoin for a while. He also was sorry for not buying Bitcoin earlier in a club home conversation.

Elon musk Bitcoin

Elon musk Bitcoin As described in the above Bitcoin principles in addition to on-chain metrics is only getting more bullish as days are advancing. MicroStrategy’s Bitcoin Playbook seems to be working and it’s just time, that institutional FOMO kicks.

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