Saylor Calls Recent Bitcoin Downturn a 20% Discount Sale

Michael Saylor, the Chairman of MicroStrategy and a fervent advocate of Bitcoin, recently made a bold assertion amid the ongoing BTC price decline. 

Michael Saylor recently made a disclosure on X, highlighting the recent downturn in Bitcoin as a temporary opportunity for investors, emphasizing that BTC was only selling for a 20% discount sale. 

He shared an image featuring a vintage-style billboard set against a skyscraper, edited to carry the message “FOR SALE 1 BTC.” According to Saylor, this 20% discount offer for Bitcoin would soon end.

Bitcoin’s Current Market Condition

Notably, Bitcoin reached its all-time high of $73,679 on March 13. However, since then, it has experienced a significant downturn, currently trading at $58,625—a roughly 20% drop from its peak. 

Saylor’s comment suggests that he views this downtrend as a temporary “sale” on Bitcoin, an opportunity for investors to acquire the asset at a discount before it rebounds.

This perspective is not surprising given Saylor’s long-standing bullish stance on Bitcoin. MicroStrategy, the company he leads, has been one of the most aggressive institutional buyers of Bitcoin. 

Even during market downturns, MicroStrategy has consistently increased its holdings. Recently, the company filed to raise $2 billion, with a portion of the funds earmarked for purchasing additional Bitcoin. This move comes despite MicroStrategy already holding 226,500 BTC, valued at approximately $13.2 billion at current prices.

Bitcoin Halving Cycles

While Saylor’s comment highlights the perceived discount in Bitcoin’s price, market analyst Ali Martinez recently shared additional context on where Bitcoin might be headed. 

In an analysis on X, Martinez pointed out that it has been 119 days since the 2024 Bitcoin halving, which occurred in April. The analyst observed that in the last two Bitcoin cycles, the cryptocurrency reached its cycle top about 530 days after the halving. 

Martinez shared two charts to support his claims, showcasing Bitcoin’s price movements in the 2016 to 2020 halving cycle, the 2020 to 2024 cycle, and also in the current one. The data displayed by Bitcoin’s historical performance across previous halving cycles showed that the current cycle may still be in its early stages. 

Data shows a pattern of initial price increases following each halving, followed by a period of consolidation, and then a substantial rally towards a new market peak. If the pattern holds, Bitcoin could be on the verge of entering the more explosive phase of its cycle, with significant upside potential.

The analysis suggests that despite the recent downtrend, Bitcoin may still have considerable room to grow before reaching its next peak. This outlook aligns with Saylor’s view, bolstering the notion that the current market presents a buying opportunity rather than a cause for concern.