MicroStrategy’s Michael Saylor has been supporting Bitcoin for a really long time and this is really important especially considering Elon Musk’s tweets that harmed the price of BTC among other factors.
Saylor has been pumping BTC’s price and he continues to support the king coin. Check out his latest tweet about BTC.
— Michael Saylor (@michael_saylor) May 28, 2021
Someone commented: “So 120 Twh of energy is spent and all we have in the end is the solution to a digital puzzle?”
Another follower said: “it proves work was put in. It is the receipt that a miner can go to the blockchain with and say “here’s my receipt for my work done securing the ledger, please pay me my reward” Hence it converts energy into monetary energy – VERY efficiently. Gold does the same,less efficiently.”
One fan said: “Instead let’s ask ourselves with what energy the banking and stock system works, often remember your enemy self-projecting his real problem on you.”
Another follower said: “If bitcoin serviced the same amount of people as the financial system and stock markets, the energy consumption would be insane. Plus those other systems serve a far greater purpose.”
Bitcoin price prediction
Bitcoin managed to recover some of its losses, and at the moment of writing this article, BTC is trading in the red. The king coin is priced at $36,831.08.
Here’s what Scott Melker said about the price of Bitcoin and an important level of resistance.
Pushing through local resistance, 42K still up ahead, which is the most significant level on the chart for me at the moment.
Want to see some volume to kick in. pic.twitter.com/77pSx8ltAi
— The Wolf Of All Streets (@scottmelker) May 26, 2021
More important names have been dropping significant advice these days about crypto trading.
For instance, check out Changpeng Zhao’s message here: ‘If you are not a volatility trader (ie, thrive on volatility), it is better to buy then #HODL for 5 years or longer, than actively trading. So, only use money you don’t need in the next few years, and you may not need more money after that. Not financial advice.’