Billionaire Saylor Makes New Bitcoin Bet Despite Heavy Losses

As long as Michael Saylor is around, Bitcoin will never walk alone.

The billionaire co-founder and CEO of MicroStrategy (MSTR) – Get the MicroStrategy Incorporated reportand the four-alarm bitcoin evangelist has taken the concept of HODL — sometimes known as “hold on for life” — to the stratosphere.

Bitcoin under pressure

It’s a tough time for digital currencies. Edward Moya, senior market analyst for the Americas at Oanda, noted that “the news cycle has been pretty awful for crypto markets.”

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