Bitcoin Tumble Inspires Support and Snark on Twitter
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Loading... - Ruben Espinoza
- 21 Jun 2022
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When it comes to investing in cryptocurrency, mummy knows best, according to Michael Saylor.
The bitcoin evangelist and billionaire CEO of MicroStrategy (MSTR) - Get MicroStrategy Incorporated Report has maintained his devotion to the world's most popular cryptocurrency, even as the sector continues to sustain heavy losses.
Talk Like An Egyptian
No matter. Saylor took to Twitter to defend bitcoin and he reached all way back to ancient Egypt to make his point.
Saylor posted a clip of a news report about Nesyamun, a 3,000-year-old Egyptian mummy, who was able to "speak" after scientists created a site bite from the high-ranking priest and scribe.
And what did Nesyamun have to say for himself after all this time?
"Bitcoiiiin!" according to Saylor's tweet.
Humor may provide some temporary relief for beleaguered crypto investors, but not even Steve Martin's rendition of King Tut could take the scorpion sting out of bitcoin's slide to a low of $17,592 over the weekend.
This was the first time since December 2020 that bitcoin fell below the symbolic level of $20,000.
'As Dead as Bitcoin'
Of course, this wouldn't be Twitter without some return snark.
"As dead as bitcoin," one commenter tweeted.
Another posted a doctored image from the Scooby-Doo cartoon with Saylor preparing to rip the hood of a trussed-up villain and declaring "Let's see who is responsible for my losses."
And underneath the hood we have...Saylor himself.
There were plenty of Saylor supporters, including one person who posted the gif of a gorilla giving the thumbs up sign.
Nevertheless, Saylor and his company are on the hook as they are among the biggest losers in Bitcoin's tumble.
"Now, many eyes are on MicroStrategy, which holds billions of dollars in BTC on its balance sheet," said Frank Corva, senior analyst, crypto and blockchain at Finder. "$17,000 is a critical level for MicroStrategy, because this is the level at which MicroStrategy will face a margin call for some of its bitcoin." Read More...
