Michael Saylor: Bitcoin Community Should Put Aside Infighting, Global Capital Yet to Arrive Is the Biggest Opportunity

BlockBeats reported on June 21 that Adam Back, CEO of Blockstream and an early Bitcoin community contributor, stated that the market’s negative view of Strategy and its preferred stock STRC lacks a factual basis. Back emphasized that what Strategy is essentially doing is selling Bitcoin to pay dividends, without altering its Bitcoin reserve strategy. Moreover, Strategy is proving it can deliver returns to investors via Bitcoin while reducing its debt ratio, showcasing a new financial model to the market. The firm suggested Bitcoin could potentially become a cash alternative asset in the future for corporate asset management and capital operations. Back added that the FUD surrounding MSTR and STRC has been exaggerated, and that Strategy will not "reset." Its long-term value lies in holding Bitcoin continuously and driving the market’s understanding of Bitcoin’s monetary properties.

June 21: According to HTX market data, Bitcoin fell below $64,000, trading at $63,926 at press time, notching a 0.7% gain over the last 24 hours.

June 21 — According to Iran’s state-run Islamic Republic News Agency (IRNA), Foreign Ministry spokesman Saeed Khatibzadeh announced that Switzerland’s one-day Berne Summit will host an afternoon quadrilateral meeting between Iran, the U.S., Qatar, and Pakistan. The session is a follow-up to the implementation of the Memorandum of Understanding between Iran and the U.S. A key focus of the Swiss gathering will be the U.S.’s failure to broker a ceasefire in Lebanon. Additional topics on the agenda include exemptions for Iran’s oil sales and the unfreezing of Tehran’s frozen assets.

June 21 — Iran’s Fars News Agency, citing military sources, announced the Strait of Hormuz remains closed. The Iranian Navy will not issue passage permits to any vessels until receiving explicit formal notification, the report said. Separately, Iran’s Islamic Republic News Agency (IRNA) quoted a Foreign Ministry spokesman confirming that the upcoming Doha talks will run for one day, with an afternoon quadrilateral meeting including Iran, the United States, Qatar, and Pakistan. The ongoing Strait of Hormuz closure and parallel diplomatic negotiations have created significant uncertainty, as global energy and shipping markets closely track all related developments.

June 21. According to new data from Vesper, U.S. whey protein prices have climbed sharply recently. Whey Isolate now tops $14 per pound, and Whey Concentrate 80 isn’t far behind with its own steep price jump. Both have hit all-time highs, with some netizens wryly comparing these price spikes to the supply crunch-driven hikes hard drive maker Sandisk (SNDK) dealt with earlier. Serenity quipped that whey protein is now mirroring the supply-demand dynamic of the AI hash rate industry: surging demand meeting supply bottlenecks is driving fast price increases. Right now, market watchers are worried creatine could be the next fitness supplement category to face shortages. As for the longer-term price trend, whey protein bottomed out in 2023 before a major rebound, with growth accelerating through 2026 – a development that’s getting plenty of notice from fitness consumers.

June 21 — Crypto analyst Lark Davis noted that the current reading for Bitcoin’s Puell Multiple indicator signals the market is either approaching or already in the bottoming phase of this cycle. This metric measures miner profitability by comparing their daily earnings to the 365-day average, and historically, periods where miner income stays low (forcing them to sell Bitcoin to cover operating costs) tend to align with the cycle’s lowest points. Davis added that while the indicator hasn’t hit the green oversold territory yet, signs of stress among miners have emerged — a development that typically marks the end of a bear market. He also pointed out that the price action in this cycle has been far milder than historical patterns would indicate. As for whether $59,000 will hold as the cycle’s low point? Davis says that will become clear over the coming months, though the clues pointing to that possibility are growing more distinct by the day.