- Bitcoin failed to hold above $78,000 as macro-pressure fears weighed on risk markets.
- Crypto traders mocked Michael Saylor after an AI-generated video spread across social media.
- Strategy bought 24,869 BTC for $2.01 billion, raising total holdings to 843,738 BTC.
Bitcoin pushed toward $78,000 but lost momentum as macro pressure returned and crypto traders turned their attention toward Michael Saylor for a very different reason.
An AI-generated video featuring Strategy executives quickly circulated on crypto X, drawing widespread ridicule.
The clip transformed a May 20 interview featuring Michael Saylor, CEO Phong Le, and host Natalie Brunell into a neon-colored rave filled with flashing “HODL” and “CRINGE” graphics.
The reaction was immediate, with traders calling it “AI slop,” “peak cringe,” and a local top signal for Bitcoin. One user mocked the situation by saying Bitcoin was bought up by boomers only for those same boomers to start posting AI-generated content about it.
A smaller group defended Saylor, arguing he had earned the right to celebrate after building the largest corporate Bitcoin position in the market.
Strategy Keeps Buying Despite Market Weakness
The backlash arrived only days after Strategy disclosed another major Bitcoin purchase. According to an SEC filing released Monday, the company bought 24,869 BTC between May 11 and May 17 for roughly $2.01 billion. The average purchase price came in at $80,985 per coin.
Strategy now holds 843,738 BTC worth around $65.3 billion at current market prices. The company’s average acquisition cost sits near $75,700 per Bitcoin. The position represents more than 4% of Bitcoin’s total 21 million supply cap.
Based on recent prices near $77,500, Strategy is sitting on roughly $1.4 billion in unrealized profit despite reporting losses earlier this year.
The latest buy was funded through stock sales. Strategy sold 430,344 MSTR shares for roughly $83.7 million, and another 19.5 million STRC preferred shares for around $1.95 billion.
Even after the raise, the company still has over $43 billion in remaining issuance capacity across both programs.
The latest acquisition ranks as Strategy’s sixth-largest weekly Bitcoin purchase ever and its second-largest buy this year.
Bitcoin Price: Traders Hold Long Exposure Near $76K
Meanwhile, the Binance long-to-short ratios climbed to the highest level in two weeks, showing growing confidence around the $76,000 support zone.
Overall positioning remains relatively neutral, though leverage is beginning to lean slightly toward upside continuation rather than panic selling. For now, Bitcoin remains stuck between aggressive corporate buying and worsening macro conditions.
Related: Bitcoin Faces Familiar Bearish Pattern as Analysts Warn of 2022-Style Breakdown Risk
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
