Michael Saylor Congratulates Bitcoin Community on US Independence Day with a \'BTC Independence\' Message

Renowned Bitcoin advocate and founder of MicroStrategy behemoth Michael Saylor has issued one of his daily BTC tweets. This time, he addressed the Bitcoin

Renowned Bitcoin advocate and MicroStrategy behemoth founder Michael Saylor has shared one of his daily BTC tweets. Today, he addressed the Bitcoin community with a “BTC independence” message.

Bitcoiners noticed Saylor’s tweet as they discussed the current hefty Bitcoin price correction that has been intensifying this week as the sell-off continues.

Saylor discusses "Bitcoin independence"

Michael Saylor congratulated the U.S. Bitcoin community on U.S. Independence Day, July 4, in a tweet. The tweet also appears to contain a hint at the potential financial independence that the world’s leading digital currency may bring in the future.

An American flag with a Bitcoin symbol painted on it is included in the tweet. Despite this week's significant Bitcoin sell-off, MicroStrategy Executive Chairman Saylor remains optimistic as he continues to implement long-term Bitcoin holding strategies at his company.

#Bitcoin is Independence.

pic.twitter.com/zRgxo7FxEM

MicroStrategy is still making regular BTC purchases, and as U.Today reported in June, the company made another market move, acquiring 11,931 BTC for a total cost of around $786 million. The crypto was purchased at an average price of $65,883. According to Saylor, the hundreds of millions of U.S. dollars used for this massive Bitcoin acquisition came from the proceeds of convertible notes sold to investors in June and excess cash.

Bearish performance in the Bitcoin market

Since the beginning of the week, the largest cryptocurrency, BTC, has lost almost 10% of its value, falling from the $63,630 range to the current price of $57,300 at the time of this writing. Today's Bitcoin decline alone is over 5%, beginning with a large red candle on an hourly chart.

According to data from analyst Charles Edwards, the founder of the Capriole Investments fund, the massive sell-off in the crypto market is occurring as Bitcoin miners are dumping their BTC reserves and freshly mined coins, along with long-term BTC holders. Edwards specifically highlighted these sales as the driving force behind the Bitcoin price decrease.

However, Bitcoiner Samson Mow believes that the crypto market will absorb all of these staggering Bitcoin sales. In today's tweet, he shared an impression that BTC whales on the Bitfinex exchange are buying all the Bitcoin that is being sold now.

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