Bitcoin

Michael Saylor launch “the summer of Bitcoin”

02/13/2023
Bitcoin Ethereum News

Not everyone knows this, but famed Bitcoin evangelist Michael Saylor also has his own academy.

It is called Saylor Academy, and it is the main initiative of the Constitution Foundation, founded by Michael Saylor in 2008, even before Bitcoin was born.

The Saylor Academy has long organized training courses regarding Bitcoin, but this year it added an initiative: the Summer of Bitcoin.

Michael Saylor: the Summer of Bitcoin

The Summer of Bitcoin is an online summer internship on open source development and design on the Bitcoin protocol.

The name given to the initiative is playing with the concept of “crypto winter,” given that although the bear market of 2022 for now seems to be over, the crypto winter is still absolutely underway.

After approaching $70,000 in November 2021, Bitcoin’s one-year price during the 2022 bear market fell all the way to below $15,500, a loss of 78%. It has since bounced back above $20,000, but still remains 68% below the 2021 highs.

While the downtrend appears to have ended in November 2022, temporarily ending the bear market. The price has not yet really recovered, making the crypto winter absolutely still ongoing.

It is enough to mention that the current price is only 10% higher than the highs of the previous cycle. 24% lower than the price at the end of 2020. Despite being about twice as high as it was in November 2020, which was before the last big bull run was triggered. Since many investors bought it in 2021 it is not yet the case to assume that the crypto winter is over.

In order to claim with certainty that the crypto winter is over, it would require precisely the beginning of a crypto summer, i.e., a strong and robust price rise that would bring the market cap back to at least the levels of January 2021.

On the other hand, the name Summer of Bitcoin also technically refers to the fact that Saylor Academy’s internship is a summer course, so on the one hand its name plays with words typical of the crypto market, while on the other hand it clearly indicates the period in which the course will be held.

The internship

The goal of the Summer of Bitcoin is to teach interns how Bitcoin works, how they can contribute to Bitcoin projects, so they can create a career in this field and earn a salary.

Indeed, the internship itself offers a salary of $3,000 in BTC, but it is not open to everyone. In fact, in order to participate, one must apply and pass selections.

The Summer of Bitcoin is already in its third year, and applications for this year’s internship are already open to college students.

In total, the internship will last 12 weeks.

The Saylor Academy

The Saylor Academy has been in existence for 15 years now, and for the past few years it has also begun to organize courses dedicated to Bitcoin.

For example, one of the online courses organized by the academy is titled Bitcoin for Everyone.  In 12 hours it teaches the basics to be able to approach this world especially from the point of view of technology.

In addition to Bitcoin and technology, the academy also organizes courses on many other topics, such as chemistry and biology. With a focus on computer science and especially business management.

Michael Saylor and the love of Bitcoin

Saylor has been an avid Bitcoin fan since 2020. Which is when he made the decision as CEO of MicroStrategy to have the company invest large sums of money in BTC.

Since then he has become a true evangelist. So much so that he has started a full-fledged online propaganda campaign particularly through his Twitter profile with nearly 3 million followers.

Saylor is interested in both the technological and financial aspects of Bitcoin. So much so that on the one hand he has spearheaded MicroStrategy’s investment in BTC, while on the other hand he has led the Saylor Academy toward more thematic course offerings.



Source: https://en.cryptonomist.ch/2023/02/13/michael-launch-summer-bitcoin/