Is Michael Saylor now a target for the Composite Man? for BITSTAMP:BTCUSD by Paul_Varcoe

Can BTC bears take aim at Michael Saylor?

With thanks to Trading View for the new Twitter linky thing!

One of the problems of owning BTC as a company, is that you have to make certain announcements. In the case of Microstrategy ( MSTR ) they have announced (Jun 21) that they then owned 105,085 BTC , worth $3.1bn. Market Capitalisation of MSTR is $5bn, so BTC is 62.5% of their worth. This is down from 80% in April.…

They also announced the average price of these purchases, $26,080. The last purchase was at $37,617. They clearly weren’t listening to us here at Mayfair.

None of this would be significant if it wasn’t for the fact that the next support level I can find on the chart is at $26,160! We run the risk of a sudden drop from the current spot simply because there is no obvious support for almost $4,000. maybe we go higher first, but this support is flimsy. The coincidence is also notable, because it might be seen as NO COINCIDENCE!!! You heard it here first……

What a fabulous story for all the bulls, hodling away at Saylor’s Average! What a target for the Composite Man. A while ago a guy called George Soros took on the Bank of England when it said it would stand firm in the European exchange rate mechanism (ERM).

Let’s see if it works. We had a fellow come on our Discord yesterday and accuse us of being the Composite Man! Very flattering…

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