KEY POINTS
- Saylor thanked miners for the work they do in the industry by re-posting a Coinbase tribute video
- He urged Bitcoiners to 'keep stacking,' considering how new BTC will be scarcer after the halving
- Bitcoin's price didn't move much during Saturday's halving, but it has since been gradually climbing
MicroStrategy founder and executive chairman Michael Saylor is rallying the Bitcoin community after the popular digital asset went through its fourth halving over the weekend, encouraging Bitcoiners to continue building up their BTC treasuries.
Following the halving event, which split Bitcoin mining rewards in half and will reduce the number of new coins coming out into the market, Saylor, a dominant voice in the cryptocurrency realm, thanked miners for their hard work. He reshared a video created by crypto exchange giant Coinbase wherein the efforts of miners were highlighted.
Thank you, #Bitcoin Miners. pic.twitter.com/YvwZvfP98q
— Michael Saylor⚡️ (@saylor) April 20, 2024
"To the miners...the guardians of Bitcoin. Every four years, your job gets twice as demanding. It's set in code. And while everyone will be rooting for the price action...it's you we should all be rooting for. Because despite bearing the brunt of halving, you continue your endless pursuit of efficiency to ensure the rest of us can transact with sovereignty. Without you, the dream ends. So we speak for the community when we say thank you. Thank you for moving money forward one block at a time," the video stated.
After thanking miners, whose rewards have fallen from 6.25 BTC to 3.125 BTC, the tech magnate went on to encourage Bitcoiners to keep growing their BTC stash as his company has been doing. MicroStrategy's last purchase brought the tech firm's total BTC holdings to over 214,000.
Keep Stacking. #Bitcoin pic.twitter.com/EDBMMaO1td
— Michael Saylor⚡️ (@saylor) April 21, 2024
"Keep stacking," he wrote on X (formerly Twitter), gaining much engagement from other Bitcoiners and prominent figures and entities in the crypto space.
Digital asset manager Eric Weiss commented that crypto users should "work towards being a 'whole coiner,'" wherein a person owns a full Bitcoin, a concept that he says will be "near impossible for an individual" in the next few decades.
Work towards being a “whole coiner”. It’s a concept that will be near impossible for an individual in a couple decades. #Bitcoin 🚀
— Eric Weiss ⚡️ (@Eric_BIGfund) April 21, 2024
The RichQuack token's X account also commented on Saylor's post, saying it was "loving the strategy" proposed by one of the known early adopters of the world's largest crypto by market value.
Loving the strategy, keep building that stack!
— RichQuack (@RichQuack) April 21, 2024
"Stack it up," crypto content creator Crypto Saving Expert wrote, while many other Bitcoiners shared the sentiment, especially after the halving.
Stack it up
— CryptoSavingExpert ® (@CryptoSavingExp) April 21, 2024
Keep hustling for us Michael otherwise this will crash like a house of cards
— Enemy of the Media and Big Tech (@freespeechonx) April 21, 2024
Now that is stacking sats! Love it, thanks Michael for being the greatest ambassador for Bitcoin!
— Monty Shelton (@monty0102) April 21, 2024
Saturday's halving means there will be fewer new BTC that will be circulated in the market, and historically, prices went up in the weeks after the event, which could make Bitcoin more expensive for individual buyers.
As of writing, Bitcoin climbed to around $66,100 after not much movement during the halving. The said figure is still significantly below the digital coin's all-time high of over $73,000 last month, but it could be a sign that the currency will repeat history to rise above the halving.
