MicroStrategy’s Michael Saylor Shares Bullish Bitcoin Call As BTC Retakes $72,000 For First Time Since March

The price of Bitcoin started the week on a positive note, with BTC blasting past the $72,000 milestone for the first time since mid-March as its block subsidy halving event draws closer.

Bitcoin Rebounds And Briefly Hits $72,600

The leading crypto topped $72,631 on Monday after a rocky start to the month, where it closed the first week of April below its 2021 lifetime high of $69,044.

There were more than $59.67 million in Bitcoin short liquidations in the past 24 hours, per data from Coinglass. In the broader crypto market, there have been over $188.72 million in liquidations over the past 24 hours. Of all these, the majority — roughly $126.48 million — were short positions.

The BTC price jump coincided with Michael Saylor’s recent X post, urging the top crypto to “ascend”. The MicroStrategy executive chairman has long been an outspoken Bitcoin proponent. 

He recently reaffirmed that Bitcoin, the oldest and still largest cryptocurrency, offers a “global, affordable, simple, and secure savings account”, specifically for the billions of people who don’t have the option or desire to operate their own hedge funds. MicroStrategy currently holds 214,246 Bitcoin, according to Bitcoin Treasuries data.

Bullish Signal For BTC

Crypto traders expect further bullishness for Bitcoin.

One key factor contributing to this bullish sentiment is the forthcoming Bitcoin halving event, which is set for April 20. This once-every-four-year event will reduce miner block rewards for successfully mining a Bitcoin block by 50%, from the current 6.25 BTC to 3.125 BTC.

Historically, this is an exponentially bullish event for long-term holders, as on average, BTC’s price has soared over 3,200% after each halving, as per CoinGecko.

Bitcoin changed hands for $71,908 at press time, representing a 2.9% growth on the day. The crypto has gained more than 10% since hitting lows of $65,075 on April 2.