Michael Saylor, the founder and former CEO of MicroStrategy, known for consistently acquiring Bitcoin for the company’s balance sheet since August 2020, recently posted a tweet that echoes a memorable move by Elon Musk three years ago during his Dogecoin endorsement spree.
Saylor’s tweet reads, “Bitcoin is the offer you can’t refuse,” accompanied by an image of Marlon Brando portraying “The Godfather,” holding Bitcoin in his hand. This seems to draw parallels to Musk’s playful endorsement of Dogecoin in a similar manner back in April 2021, just before his Saturday Night Live appearance. Musk’s antics significantly boosted Dogecoin’s price, reaching an all-time high of $0.7376 on May 8.
As of the current writing, Dogecoin is trading at $0.07828, nearly 90% below its historic peak in 2021. Musk’s influence on the cryptocurrency markets extended to Bitcoin, with its price hitting a record high of $64,800 on April 14, 2021.
In February of the same year, Musk surprised the crypto community by announcing Tesla’s $1.5 billion Bitcoin purchase and its inclusion in the company’s balance sheet. Tesla briefly accepted Bitcoin as a payment option for its electric cars, but later reversed this decision, citing environmental concerns related to Bitcoin mining. Although the mining industry later achieved the 50% renewable energy milestone set by Musk, Tesla did not resume Bitcoin payments.
In the midst of these developments, renowned crypto analyst Michael van de Poppe shared his Bitcoin price forecast, anticipating a temporary peak in the $48,000-$51,000 range. With expectations for the approval of Bitcoin spot ETFs this week, Bitcoin recently surged over 9%, breaking the $47,000 level, reinforcing optimism within the crypto community about potential upward movements.
