Analyst: MSTR is the “Mullet” of this Bitcoin Bull Cycle, Acting as a Bitcoin Pressure Relief
BlockBeats News, January 14th, CoinDesk analyst James Van Straten wrote, "In this cycle, Strategy (MSTR) took on about 75% of the drawdown, preventing Bitcoin itself from experiencing an equivalent decline, as volatility shifted from spot Bitcoin to MSTR common stock.
At the same time, Michael Saylor issued a large number of shares at about 1x mNAV, acting as the ultimate buyer, thereby somewhat suppressing the formation of a bear market."
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
Stablecoin mechanisms make US dollar risk native to cryptocurrencies
Bloomberg analyst questions banks' concerns over stablecoin yields
Trending news
MoreCrypto prices
More
