Michael Saylor Endorses Bitcoin Using Stephen King’s ‘Shawshank Redemption’
Vocal Bitcoin advocate Michael Saylor, founder and former chief executive of MicroStrategy, used X to support Bitcoin in an unusual way.
Saylor adds Bitcoin message to movie quote
Unlike his usual visuals, which are likely generated by an AI-powered app, Saylor this time used a brief excerpt from the classic Frank Darabont film “Shawshank Redemption,” based on Stephen King’s novel “Rita Hayworth and the Shawshank Redemption.”
In Saylor’s video, Andy Dufresne puts on a gramophone record and starts listening to opera instead…Michael Saylor endorses Bitcoin as the “best crypto asset,” saying Bitcoin “is not his second best asset.” Dufresne turns the volume up to maximum and the entire Shawshank prison begins to hear and enjoy the Bitcoin message taken from one of Saylor’s public interviews.
“It’s time to be free,” reads the tweet accompanying the video quote.
Bitcoin regained $45,000It’s time for liberation. pic.twitter.com/ZsDmN09LnN
— Michael Saylor(@saylor) January 7, 2024
Bitcoin, the world’s flagship cryptocurrency, managed to regain $45,000 as all spot Bitcoin ETF issuers updated their S-1 forms, pushing all Bitcoin ETF applications to the final stage at the SEC before approval.
But according to Lark Davis, “there was a real fee involved.” All participants are trying to acquire as many clients as possible and are reducing ETF fees for the first half of the year or until $1bn/$5bn volume is reached – this is for BlackRock, Galaxy and Ark Invest fees.
As for other participants, Fidelity reduced its Bitcoin spot ETF fee to 0.39%, WisdomTree to 0.5%, VanEck to 0.25%, and Valkyrie to 0.8%. Davis said that all these Bitcoin ETF fees are much lower than the community expected because all of these companies are expecting huge demand for their Bitcoin-based ETFs right away, so they are trying to make their products “as attractive as possible.” A large portion of capital will flow into Bitcoin. “We will probably start from this week.”
Last week, Bitcoin lost the $45,300 level and fell 7% after Matrixport published an article saying the SEC regulator was unlikely to approve Bitcoin spot ETFs in January and may suspend it until later this year.
Investors began liquidating their positions and wiped out approximately $730 million worth of crypto assets, mostly Bitcoin and Ethereum.
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