In a poetic tweet, Strategy Chairman Michael Saylor likened Bitcoin to an “Orange Dwarf,” capturing the crypto community’s fascination. Saylor expressed: “Bitcoin is an Orange Dwarf—the brightest object in the financial system—growing stronger, hotter, and denser as it attracts capital.”
This analogy generated significant interest, as Saylor drew parallels between Bitcoin’s continuous and unwavering growth and that of an orange dwarf star. Known for their longevity and increasing intensity, orange dwarfs symbolize stability and strength, mirroring Bitcoin’s stature within the financial ecosystem. In another tweet, Saylor also characterized Bitcoin as a digital energy network.
Saylor’s statement underscores Bitcoin’s distinctive role in the financial landscape—steadily growing more robust and influential as capital continues to flow into the network.
MicroStrategy has been a proponent of this strategy since August 2020, when it began acquiring Bitcoin, now holding 499,096 BTC, making it the largest corporate Bitcoin holder worldwide. Under Saylor’s leadership, the former software firm has emerged as the largest issuer of convertible bonds in recent years, raising nearly $9 billion.
Recently, BMAX, a convertible-bond exchange-traded fund focusing on companies with Bitcoin on their balance sheets, including Saylor’s newly rebranded Strategy, was launched. Additionally, Bitwise has unveiled a fund tracking an index of corporations that hold Bitcoin as a treasury asset—Strategy comprises roughly a quarter of it.
Bitcoin Eyes Volatility Ahead of Fed Meeting
As of press time, BTC was down 1.14% in the past 24 hours, trading at $83,263 as investors assessed macroeconomic risks and the impending Fed meeting.
Related
The Federal Reserve will convene on Wednesday to provide investors with an update on inflation. The upcoming FOMC meeting is set for March 18-19, and market watchers are keen on how Fed Chair Powell addresses trade policy, fiscal policy changes, and most crucially, the quantitative tightening (QT) program, which may be paused or halted.
Though recent economic indicators have shown improvement, investors anticipate that the Federal Reserve, aiming for a 2% inflation rate, will maintain its stance when it concludes its two-day meeting on Wednesday. Traders are expecting interest rate cuts of 0.75 percentage points by the year’s end, beginning in June.
