Is Bitcoin Based on Math? MicroStrategy’s Saylor Reveals Shocking Formula
Mustafa Mulla31 Aug 20242 min read
As Bitcoin’s price takes a break from its recent rally, Michael Saylor, the chairman of MicroStrategy, has shared a strong message with the cryptocurrency community. Saylor, who has long been a vocal supporter of Bitcoin, tweeted, “Success isn’t random—it’s calculated. Bitcoin.”
This statement hints at firm belief in the future of Bitcoin.
Bitcoin’s Success Is No Accident
In his recent tweet, Saylor shared that Bitcoin’s success is not a matter of luck but a result of careful planning. He posted an image with a formula related to Bitcoin’s system. This formula includes:
This formula includes:
2i: The number of halvings that have already taken place.
32: The total number of Bitcoin halvings that will ever occur.
210,000: The number of blocks between each halving.
50: The initial number of Bitcoins given out per block.
These numbers are key to understanding Bitcoin’s controlled supply, which limits the total number of Bitcoins to 21 million. Saylor’s message is clear: Bitcoin is built on a strong mathematical foundation, making it a well-planned asset rather than a random one.
MicroStrategy’s Bitcoin Strategy
Under Saylor’s leadership, MicroStrategy started buying Bitcoin in August 2020, viewing it as a hedge against inflation and a better store of value than cash. As of August 31, the company holds 226,500 Bitcoins, purchased for around $8.3 billion, with an average price of $36,821 per Bitcoin. For Saylor, this strategy is a calculated move to protect and grow the company’s assets.
Bitcoin’s Recent Drop
Saylor’s comments come at a time when the cryptocurrency market is experiencing significant fluctuations. In the past day, Bitcoin’s price dropped by about 3.34%, falling to $58,167 after hitting a high of $61,194. This decrease followed a peak of $61,194 in the previous trading session.
The current downturn in the market is due to several factors, including economic uncertainty and investors taking profits after Bitcoin’s recent highs. Despite these challenges, Saylor remains confident in Bitcoin’s potential.
Other cryptocurrencies, such as Ethereum, Shiba Inu, Solana, and Chainlink, also saw declines of 3% to 6%, while smaller assets like FET, TAO, WIF, and Floki experienced even larger drops of 7% to 18%.
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