Elon Musk recently shared an AI-generated patriotic video that has caught the attention of prominent figures in the cryptocurrency space. Michael Saylor, co-founder of Strategy, utilized the video to bolster Bitcoin’s appeal, replying with a message that creatively swapped the letter “B” for the Bitcoin symbol. “We can still make something Ƀetter,” he posted on X, echoing a recurring theme where he promotes Bitcoin around U.S. holidays.
The video, a rendition of “God Bless USA,” was produced by the account Heavy Pulp and quickly garnered over 2.2 million views within hours, coinciding with the July 4 holiday celebrations. Saylor’s strategy aligns with his established practice of leveraging festive occasions to highlight Bitcoin as a vehicle for economic empowerment in the U.S.
As of early July, Strategy boasts a hefty Bitcoin portfolio of 847,363 BTC, valued at approximately $52.9 billion, making it the largest corporate holder of Bitcoin. Additionally, SpaceX has holdings of about 18,712 BTC worth around $1.17 billion, while Tesla holds 11,509 BTC, valued at approximately $718.5 million. As Bitcoin trades at $62,425.78, it has seen a modest increase of more than 1% in the last 24 hours.
In a nod to the growing presence of Bitcoin among major corporations, Saylor congratulated Musk on SpaceX’s record-setting IPO, suggesting that 25% of what he refers to as the “Mag8″—an expanded reference to the eight largest tech companies—now includes Bitcoin, reinforcing the cryptocurrency’s increasingly significant role in corporate finance.
Despite Bitcoin’s recent downturn, having dropped over 50% since its all-time high in October, there are signs of improving investor sentiment. Recent inflows into U.S. spot Bitcoin ETFs, amounting to $223 million after a stretch of outflows, indicate a potential easing of market pressures. This shift comes as Strategy continues to bolster its Bitcoin stockpile, even as its Class A Common stock experienced volatility by dipping below its Market-to-Net Asset Value (mNAV) in late June. However, MSTR saw a 7% increase in its price recently, and discussions surrounding it on Stocktwits reflect an ‘extremely bullish’ sentiment among retail investors.
This blend of patriotic messaging, corporate investment in Bitcoin, and shifting market conditions underscores a dynamic intersection of technology, finance, and national identity as key figures advocate for the cryptocurrency’s potential as a cornerstone of American economic strength.
