
Michael Saylor’s latest tax strategy echoes Strategy’s 2022 bitcoin sale
Michael Saylor's tax strategy echoes 2022 bitcoin sale by Strategy.

Bitcoin faced volatility, peaking at $82,400 before Trump's comments on Iran impacted the market. Altcoins like XRP and ADA struggled to gain traction amid bearish sentiment.
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After a relatively quiet weekend, bitcoin went through a highly volatile evening session on Sunday and Monday morning, before it was stopped at $82,400 after Trump’s comments on Iran’s latest proposal.
Many altcoins tried to break out yesterday, including XRP and ADA, but the overall bearish sentiment prevailed.
Last week was quite positive for the primary cryptocurrency. It began with a price surge to $80,800 on Monday, a level not seen in three months, before a sudden but brief crash drove it south by over two grand. However, BTC quickly rebounded and reclaimed the $80,000 level and even rocketed to $82,800 on Wednesday to mark a new local peak.
After gaining $8,000 in a week, though, bitcoin was due for a correction, which took place on Thursday and especially on Friday when it dipped to $79,100. Nevertheless, the bulls persevered and initiated a minor leg up that helped BTC reclaim the $80,000 level on Saturday.
The following 36 hours were calmer, but more volatility ensued on Sunday evening and Monday morning. BTC first jumped to $81,500, before it dived to $80,250, and then rocketed to $82,500. However, then dumped back down below $81,000 after US President Donald Trump rejected Iran’s latest proposal, calling it “totally unacceptable.”
BTC’s market cap remains around $1.620 trillion on CG, while its dominance over the alts is still above 58%.
BTCUSD May 11. Source: TradingView
XRP became the top performer yesterday evening at one point, gaining over 5% and exceeding $1.50 for the first time in over three weeks. As analysts were predicting a major breakout, though, the familiar , and the asset lost its momentum, dropping back down to $1.45. ADA faced a similar price trajectory and now sits at essentially the same level as yesterday.
Bitcoin was halted at $82,400 due to comments made by Trump regarding Iran's latest proposal.
Trump's remarks contributed to an overall bearish sentiment, preventing XRP and ADA from breaking out despite attempts.
Bitcoin surged to $80,800, briefly dipped below $80,000, and then rose to $82,800 before facing a correction.

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ETH, BNB, SOL, TRX, and DOGE are also in the green on a daily scale, but are all lower than their respective peaks from yesterday evening. SUI has rocketed the most now, gaining 12% daily, while ZEC has plunged by over 6%. HYPE and UNI are also in the red.
The total crypto market cap is down to $2.780 trillion on CG after it topped $2.830 trillion yesterday evening.
Cryptocurrency Market Overview May 11. Source: QuantifyCrypto