Michael Saylor's Bold BTC Statement Fuels Bitcoin Buzz as Price Rebounds

Bitcoin (BTC) is back in the green, and MicroStrategy cofounder Michael Saylor has once again made waves with a bold statement. In a two-word tweet, "Try BTC," Saylor shared a chart showing the U.S. dollar strengthening against the Turkish lira, reinforcing Bitcoin’s role as a hedge against currency devaluation.

A longtime BTC advocate, Saylor continues to position Bitcoin as the ultimate store of value over fiat. His latest tweet highlights its potential as a hedge against inflation, especially in economies facing rapid depreciation.

Meanwhile, MicroStrategy announced plans to sell $500 million in dollar-denominated perpetual preferred stock, aiming to use the proceeds to acquire more Bitcoin. This follows the company’s recent $10.7 million BTC purchase and a prior move to issue up to $21 billion in preferred shares to expand its holdings.

Bitcoin saw a strong rebound, reaching $84,330 early Wednesday ahead of the Federal Open Market Committee (FOMC) meeting. At press time, BTC was up nearly 2% in 24 hours, hitting $84,358. Traders are closely monitoring the $80,000 support level, as a dip below it could signal further downside.

The FOMC’s decision could determine Bitcoin’s short-term trajectory, with a dovish stance potentially sparking a recovery, while a hawkish outlook may prolong market weakness. According to Glassnode, Bitcoin’s price range is still stabilizing after a 30% drop, with declining liquidity in both on-chain and futures markets. Long-term holders remain inactive, suggesting continued sideways movement.

As market participants await macroeconomic signals, Bitcoin's resilience remains in focus, fueled by institutional support and increasing global demand.