Michael Saylor “Bitcoin Is A Network That Stores Digital Energy”, NFT Market Is Close To Become A $13 Billion Industry, Bitcoin Continues To Fall And The Market Loses $200 Billion

Michael Saylor “Bitcoin is a network that stores digital energy”

Michael Saylor (MicroStrategy CEO) kicked off the ninth edition of the MIT Bitcoin Expo event this Saturday, and highlighted the importance of Bitcoin to digital energy.

In a conversation with Chris Keshian (Director of Digital Assets at NeoFlow Asset Management), Saylor explained that despite all the digital information in recent decades, not all data that is transmitted can be considered energy.

However, the Bitcoin transaction system allows large investments to be made through private keys.

Also, Saylor highlighted the importance of Bitcoin mining:

"Bitcoin miners are supporting sustainable energy production everywhere. Miners are simply data centers that produce pristine digital energy. The right thing to do is buy bitcoin or start mining it now."

NFT market is close to become a $13 Billion industry

The NFT market projects a promising future for the coming years with the impulse of influencers, gaming communities and digital art trends.

Research firm MarketsandMarkets predicts that the current volume of $3 billion will reach $13 billion by the end of 2027.

The pillars on which the growth of NFTs stands will continue to be reinforced by entire communities, of which more participants are joining the digital art trade.

The analysis also includes other influential factors, such as fashion, retail and Blockchain adoption.Considering that the NFT market is in its early stages, it is safe to think that much remains to be seen.

Bitcoin continues to fall and the market loses $200 billion

The cryptocurrency market has been in a short-term downtrend, leading Bitcoin to test the $34,000 support level. This setback has cost the market $200 billion, marking a sell-off season.

Although the bulls control the zone, further corrections towards the $30,000 level, one of the strongest supports for the Bitcoin price, are expected.

During the last downtrend, the $30,000 level was able to hold the price and start a new bullish period to $68,000.

The latest movements in the crypto market show the need for an accumulation zone to expect large purchases and change the market sentiment.