With the peak of "Bitcoin Winter".. Michael Saylor: Hang in there

Michael Saylor, the chairman of Strategy, a company specializing in Bitcoin storage, commented on the sharp collapse currently being experienced by the cryptocurrency, which has fallen below $84,000, urging investors to hold on against the fierce downward wave.

Saylor posted an AI-generated image of himself in a severe snowy environment resembling the North Pole, referring to the cryptocurrency market entering what is known as "Bitcoin Winter", a term used to indicate extended downturn periods, and he captioned the image with one word: "Hang in there"

The image also symbolizes the term "Shakedown Cruise", which in the navy means a test voyage for the ship before official operation, and in economics, the term "Shakedown" refers to a phase of testing resilience and endurance before entering the real phase.

This means, according to the symbol used by Saylor, that the current downturn represents a tough test preceding a phase that may witness, according to his forecasts, a strong return of Bitcoin in the future.

The Strategy company itself has been significantly affected by the drop in Bitcoin, as the company's stock fell more than 40% over the week, making it down 70% from its recent peak, breaking through a major support line that lasted 1021 days since March 2023.

Source: The Economic Times + Michael Saylor's account on X