Michael Saylor Endorses Bitcoin Using Shawshank Redemption
Michael Saylor, a vocal evangelist and former chief executive, has taken an unusual approach to endorse Bitcoin. Instead of his usual images, he used a short extract from the classic movie “Shawshank Redemption” to convey his message. In the video, he is seen endorsing Bitcoin as the “best crypto asset,” emphasizing that there is no second best to Bitcoin.
Bitcoin has managed to regain $45,000 as all the spot Bitcoin ETF issuers have updated their S-1 forms, pushing all Bitcoin ETF applications to the final stage at the SEC before getting approved. However, there is currently a fee war going on among ETF issuers, with all participants reducing their fees in an effort to attract more customers.
Fidelity has set its Bitcoin spot ETF fee at 0.39%, WisdomTree at 0.5%, VanEck at 0.25%, and Valkyrie at 0.8%. These fees are much lower than expected, indicating that companies are anticipating a high demand for their Bitcoin-based ETFs. This move is expected to result in a wave of capital flowing into Bitcoin, potentially starting this week.
Last week, Bitcoin lost the $45,300 level and crashed by 7% after an article suggested that the SEC regulator is unlikely to approve Bitcoin spot ETFs in January and may suspend it until later this year. Traders started liquidating their positions, wiping approximately $730 million worth of crypto assets off the market, mostly Bitcoin and other cryptocurrencies.
Michael Saylor’s endorsement of Bitcoin using the iconic movie “Shawshank Redemption” has garnered attention in the crypto community, with many praising his creative approach to spreading his message. This unique method has sparked curiosity and enthusiasm among Bitcoin enthusiasts, adding a new dimension to the ongoing discussions about the future of cryptocurrency.
Despite the challenges and uncertainties in the cryptocurrency market, the endorsement by influential figures like Saylor continues to fuel optimism and interest in Bitcoin’s potential. As the industry continues to evolve and adapt to changing dynamics, such endorsements play a crucial role in shaping the narrative and perception of Bitcoin and other cryptocurrencies.
