CryptoQuant: Strategy's establishment of USD reserves indicates preparation for a possible bear market
Jinse Finance reported that on-chain analytics firm CryptoQuant stated today that Michael Saylor's bitcoin holding company, Strategy (MSTR), established a $1.44 billion USD reserve fund this week, indicating that the company is preparing for a possible bitcoin bear market. CryptoQuant believes that setting up a 24-month USD buffer marks a "tactical shift" for Strategy, moving from its previous aggressive approach of issuing more shares to buy bitcoin to a more conservative, liquidity-focused strategy. This reduces the risk of being forced to sell bitcoin during market downturns. Julio Moreno, Head of Research at CryptoQuant, predicts that if the bear market continues, bitcoin prices may trade between $70,000 and $55,000 next year.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Data: ANAP Holdings subsidiary increases holdings by 54.5 bitcoins, total holdings reach 1,200 bitcoins
Data: US XRP spot ETF saw a single-day net inflow of $50.27 million
Arkham Swap is now live
BlackRock Report: US Debt Growth Will Drive Cryptocurrency Market Expansion
