Michael Saylor Breaks Silence on Bitcoin Price Decline: What He Said

No Tariffs on Bitcoin as Crypto Sees Pullback

Financial markets took a bearish turn early Friday, and the cryptocurrency market followed suit. Bitcoin, the world's largest cryptocurrency, dropped sharply to a low of $107,327 as investors weighed macroeconomic concerns.

Despite the downturn, MicroStrategy founder Michael Saylor remained optimistic. In a tweet, Saylor stated, "No tariffs on Bitcoin," reinforcing his belief in Bitcoin as a borderless, decentralized asset resilient to traditional market pressures.

Bitcoin Reaches New Highs, Followed by Pullback

Earlier this week, MicroStrategy announced plans to sell up to $2.1 billion in 10% perpetual convertible preferred stock. This move coincided with Bitcoin hitting an all-time high of over $111,000 on Thursday, fueled by institutional interest and clearer crypto regulations. The rally pushed Bitcoin's market cap to a record $2.2 trillion.

At press time, Bitcoin hovered just below $109,000, experiencing a predictable pullback as traders locked in profits after the recent surge.

Crypto Market Follows Broader Sell-Off

The sell-off intensified as risk assets, including Bitcoin, plunged during early U.S. trading hours on Friday amid macroeconomic uncertainty. U.S. stock index futures reversed from modest gains to nearly 2% losses. After peaking at $112,000 on Coinbase, Bitcoin quickly retreated to $107,327.

At press time, Bitcoin was down 2.44% over 24 hours to $108,501, with other cryptocurrencies mirroring the decline. CoinGlass data shows $540 million in crypto liquidations during the downturn.