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In addition to Bitcoin’s price declines, the losses of institutional companies holding Bitcoin are also being widely discussed. Strategy is the biggest institutional Bitcoin holder, in this respect, losing about $5 billion.
Although rumors are growing in the market that the company may sell Bitcoin, it insists they will not sell $BTC and will wait until price drops to $8,000.
While discussions continue to discuss the claims surrounding Strategy and Bitcoin, founder Michael Saylor has made new statements about the declines in $BTC.
We are in a crypto winter,’ Saylor told Fox Business that the current $BTC drop is mild and will pass quickly.
Saylor said the current Bitcoin decline is mild compared to previous cycles and that a strong rally will soon follow, saying “At this point in my opinion,” says Sayler.
According to Big bull Saylor, “the past bear markets were much deeper and longer,” but the current correction would be’short-lived so that the market can find new growth factors.
At this point, Saylor cited the support of U.S. President Donald Trump and increasing corporate adoption as important factors.
“Banks and other institutions are supporting Bitcoin much more strongly than they were four years ago.”
We even have a president who supports Bitcoin, and we’re getting support from the administration.”
While the renowned figure has said that Strategy is now losing money on its $BTC assets, “the company could manage its debt even if the Bitcoin price dropped to $8,000.”
He added that the company plans to convert its convertible bonds into shares in the next three or six years and will continue to buy more $BTC each quarter.
MicroStrategy currently owns 717,131 $BTC, purchased at an average price of $76,027, with a total value of approximately $54.52 billion.
*This is not investment advice.
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