Earlier today, CEO of MicroStrategy Michael Saylor announced that his company had purchased another 480 BTC worth approximately $10 million, CZ of Binance reacted to this saying this was a great move.

Here’s What Binance’s CEO Thinks About Michael Saylor

MicroStrategy is one of the biggest holders of Bitcoin and the most affected by the ongoing “crypto winter”. Its CEO Michael Saylor took to Twitter today to announce that the firm had acquired more BTC despite being in a loss of over $1 billion.

Binance CEO Changpeng Zhao has supported MSTR’s move and tweeted that MicroStrategy CEO Michael Saylor, will end up having the last laugh, indicating that the two billionaires remain strongly bullish on BTC.

The company now holds 129,699 bitcoins (BTC) acquired for $3.98 billion, or an average cost of $30,664 each. At press time, bitcoin is fluctuating at $20,100, making MSTR’s stash worth approximately $2.6 billion

CEO Michael Saylor has said several times that the company plans to hold the bitcoin long term and has no plans to sell it. In March, MicroStrategy took out a $205 million loan from Silvergate in order to purchase more Bitcoin, and he has allayed investors’ fears of a potential margin call.

The margin call thing is much ado about nothing – Saylor

In a CNBC squawk on the street interview, Michael Saylor gave his thoughts about the liquidation talk on people’s lips about his company, he said,

The margin call thing is much ado about nothing, It’s just made me Twitter famous, so I appreciate that,

Saylor also told CNBC that MicroStrategy continues to generate cash flow, and that “from time to time as we have excess cash, we’re going to buy more [bitcoin],

He went on to add that MSTR’s main strategy is to buy and hold.When asked if it would make sense for the company to buy some of its own bonds, which are trading at a discount, Saylor said that the securities market is high risk and that the company’s investors are in the know of MSTR’S bitcoin-focused strategy.

Elon Musk is well known for his Twitter antics because of which he is often referred to as the “richest troll” out there. The latest in the series of his outlandish meme tweets brought the discussion back to Bitcoin where Musk mockingly responded to one user that “Bitcoin cures cancer.” It all started with Musk sharing a Meme about the olden days with the caption “Not a cellphone in sight…. Just people living in the moment”

A simpler time, it was pic.twitter.com/RIkkgfKAk1

— Elon Musk (@elonmusk) November 19, 2021

 

One of the users replied to the meme with another sarcastic comment claiming “Bitcoin can fix this,” which seemed to have caught Musk’s attention and he mockingly responded with “Bitcoin Cures Cancer.”

Bitcoin cures cancer

— Elon Musk (@elonmusk) November 20, 2021

Musk’s Twitter antics are quite popular so much so that it has cost a few legal actions and fines from the authorities given his tweets have been often responsible for moving the market. While Musk seems to have lost that influence lately as he failed to pump Dogecoin on several occasions, but people are still wary of his capabilities.

Elon Musk is Anti Bitcoin Maximalism?

Tesla bought $1.5 billion worth of Bitcoin in May this year and followed it up with an announcement that the case company would start accepting BTC payments. However, just a few days after Musk withdrew the plan claiming environmental concerns. This triggered a wave of negative reactions from the Bitcoin community who were adamant about proving Musk wrong. As a result, Bitcoin proponents were often seen arguing with Musk on Twitter while tech billionaires continued to make a mockery out of the top cryptocurrency and its supporters.

Musk became a Bitcoin villain overnight and many believed Tesla might sell their BTC. However, the B-Word conference changed the market sentiment again as Musk made it clear that Tesla still holds over $1 billion in BTC and also laid out plans to restart the BTC payment option. Thus, it seems Musk is more of anti-Bitcoin maximalism rather than anti-Bitcoin.