In his recent tweet, economist Henrik Zeberg highlighted the Bitcoin price decline on Feb. 18, which was about 0.17%. He humorously labeled it a “Bitcoin crash,” poking fun at mainstream media and commentators who exaggerated the situation.
> “I survived the Feb. 18th CRASH in #BTC of 0.17% 😅”
> — Henrik Zeberg (@HenrikZeberg) February 19, 2025
This minor decline was merely a result of one hourly candle amid a greater price drop of approximately 2.5%, which saw Bitcoin decrease from $96,200 to around $93,800, losing $2,400 in just a few hours.
Currently, Bitcoin has recovered slightly, increasing by 2.55% and reaching the $96,320 price level.
Michael Saylor on Bitcoin and Gold Audits
Earlier this week, Tesla CEO Elon Musk raised questions regarding the U.S. national gold reserve held in Fort Knox since 1937. Musk believes that an audit of Fort Knox and other U.S. governmental organizations is necessary to curb taxpayer spending. He referenced Senator Mike LEE, who has been denied access to Fort Knox for inspections.
Musk expressed skepticism about the yearly audits of the gold reserve and tweeted a meme implying doubts about its existence or accuracy. In response, Michael Saylor, cofounder of Strategy (formerly MicroStrategy) and a Bitcoin advocate, remarked, “Bitcoin fixes this.”
Following this, Bitcoin critic Peter Schiff countered Saylor’s claim by stating that “when you audit gold you audit something. When you audit Bitcoin you audit nothing.” His remarks followed a tweet from pro-Bitcoin Senator Cynthia Lummis, who supported Saylor’s idea that a Bitcoin reserve could be audited easily at any time with basic technology.
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