Michael Saylor, the well-known Bitcoin advocate and former CEO of MicroStrategy, made an unexpected move to promote Bitcoin by incorporating a short extract from the “Shawshank Redemption” movie into his message. This departure from his usual approach of using AI-generated images caught the attention of the crypto community.
In the video, the iconic scene of Andy Dufresne playing a gramophone record is accompanied by Saylor’s voice endorsing Bitcoin as the “best crypto asset,” with a message that “there is no second best” to Bitcoin. The clip went viral on social media, with Saylor’s tweet accompanying the video stating, “It’s time to break free.”
On the market front, Bitcoin has rallied to recapture the $45,000 mark following updates on Bitcoin ETF applications. Notably, all spot Bitcoin ETF issuers have moved their applications to the final stage at the SEC, signaling a potential approval on the horizon. Additionally, a price war has emerged among ETF issuers, with fees being slashed to attract more customers, signaling expectations for significant demand in the coming weeks.
However, a recent article from Matrixport suggesting a delay in Bitcoin spot ETF approvals led to a 7% market crash last week, resulting in the liquidation of approximately $730 million worth of crypto assets. Despite the setback, the overall outlook for Bitcoin remains optimistic, with the potential for a wave of capital inflow once spot Bitcoin ETFs are approved.
