With the peak of "Bitcoin Winter".. Michael Saylor: Hold on
Michael Saylor, Chairman of Strategy, a company specializing in Bitcoin storage, commented on the sharp collapse currently being experienced by the cryptocurrency, which has dropped to below $84,000, urging investors to hold on in the face of the violent downturn.
Saylor posted an AI-generated image showing him in a severe snowy environment reminiscent of the North Pole, in reference to the cryptocurrency market entering what is known as "Bitcoin Winter," a term used to denote extended downturn periods, and captioned the image with a single word: "Hold on."
The image also symbolizes the term "Shakedown Cruise," which in the navy refers to a test voyage for a ship before official operation, and in economics, the term "Shakedown" refers to a testing phase of endurance before entering the real stage.
This means, according to the symbol used by Saylor, that the current downturn period represents a harsh test preceding a phase that may witness, according to his predictions, a strong return of Bitcoin in the future.
The Strategy company itself has been significantly affected by the decline in Bitcoin, as the company's stock fell by more than 40% over the week, making it decrease by 70% from its recent peak, breaking a key support line that lasted 1021 days since March 2023.
