Key dealers
- Bitcoin’s liquidity 24/7 makes it a short -term risk supply.
- Michael Saylor claims that Bitcoin’s trading pattern does not indicate long -term correlation with other assets.
Bitcoin’s latest price fluctuations are largely driven by its deep liquidity and accessibility around the clock, rather than a genuine correlation with other risk resources, says Michael Saylor, the co -founder of the strategy, in a recent statement about X.
Saylor commented in response to a question from Barstool Sports founder Dave Portnoy, who asked why Bitcoin, designed to be independent of the US dollar and free from regulation, “basically acts exactly like the US stock market.”
Portnoy noted that as the market rises, Bitcoin rises, and as it falls follows Bitcoin.
“Bitcoin acts as a risk supply in the short term because it is the most fluid, salable, 24/7 availability of the earth. In the panic, traders sell what they can, not what they want. Does not mean that it is correlated in the long term-means that it is always available,” according to Saylor.
In a separate statement, Saylor says that Bitcoin’s usability makes it the most volatile.
Bitcoin reached $ 87,800 on April 3 before he fell to $ 81,500 after Trump’s customs message. Currently, BTC is about $ 82,700, a decrease of about 5% over the past seven days, per tradingview.
Despite market volatility, the strategy’s 528,185 Bitcoin -Stash still generates over $ 8 billion in unrealized profits, according to the company’s portfolio trackers. The figure doubled once.
Under Saylor’s leadership, the company will unlikely to download any devices in its Bitcoin holdings. Its three -year goals are to raise $ 42 billion to continuously finance additional purchases, and eventually Become a bitcoin bank.
Saylor’s Bitcoin Playbook has inspired others, including Gamestop.
First, rumors of gamestop circulated in view of an investment in Bitcoin before its result for the fourth quarter, then at the end of last month, the company’s board unanimously approved an update of its investment policy, which allowed the company to hold Bitcoin as a government fund.
Earlier this week, the established gaming trader and the MEME syntikon revealed to collect $ 1.5 billion in a convertible note offer. Part of the new capital will be awarded Bitcoin.
Saylor encouraged Gamestop CEO Ryan Cohen on Thursday to buy Bitcoin and claimed it was “for sale”.
Cohen bought just 500,000 shares in Gamestop to $ 21.55 per share and increased its ownership to about 8.4% of the company, according to a new SEC application.