MicroStrategy chairman urges keeping perspective amid Bitcoin price volatility

According to USA Today, MicroStrategy Chairman Michael Saylor emphasized the need to maintain foresight and focus in the face of Bitcoin’s recent price fluctuations. Bitcoin, which peaked at $73,798 in mid-March, has since corrected around 13%, rising 1.34% to $64,335 in the past 24 hours. Earlier this week, Bitcoin fell from a high of $67,225 set on April 23.

In a related development, investors withdrew a net $218 million from U.S. Bitcoin exchange-traded funds, one of the largest single-day outflows. This was triggered by waning optimism about a rate cut by the Federal Reserve and reduced demand for risk assets. With Bitcoin's latest price action stabilizing, Thaler's advice resonates with those taking the long view. His call to "pay close attention" is seen as a state of mind in response to the volatile landscape of cryptocurrencies.