Saylor's Reassurance Sends Bitcoin Price Soaring

Bitcoin rebounded sharply after Michael Saylor clarified his company's strategy on selling its massive Bitcoin holdings. The price of BTC surged 2% in 24 hours to $63,322 as investors reacted positively to Saylor's explanation.

The digital asset saw a significant 6% increase in trading volume with a transaction value of about $15 billion over the last 24 hours. This is a clear response to reduced geopolitical tension after US President Donald Trump cancelled planned military strikes against Iran on August 2.

Strategy Inc.'s co-founder Michael Saylor stated that they never had a 'never sell' policy and expect to remain net buyers of Bitcoin over time. He clarified that the company's announcement of a $5 billion BTC sale was to fund preferred stock dividends after posting a quarterly loss of $8.22 billion in Q2.

The move provided reassurance to investors, as it appears Strategy Inc. is not abandoning its long-term thesis on Bitcoin. The company currently holds 843,775 BTC purchased for a total of $63.69 billion, averaging $75,476 per BTC.