According to Michael Seilor, a large number of “economically weak” investors come out of the asset, which is why the asset still cannot overcome the mark of $ 150,000:
“For various reasons, a large number of bitcoins were in the hands of governments, lawyers and bankruptcy. They do not have the thinking of investors with a ten -year horizon, and when the price of Bitcoin began to grow, they took advantage of the situation and decided that this was a good output point to obtain liquidity. ”
Sailor said that he was not surprised by the lack of a desire of the US authorities to spend money on buying bitcoins for a state reserve. While the authorities are slow, other institutional players, including hedge funds that manage assets and technological companies, will buy bitcoin as a backup asset to protect fiat currencies from inflation, the businessman said.
The influx of funds in spot bitcoinETF It helps to stabilize the course of cryptocurrencies, attracting fresh capital from traditional financial markets, smoothing the volatility and making recessions less sharp, reasoned Seilor.
Earlier, Michael Saylor said that the fluctuations in the Bitcoin course are caused mainly by its high liquidity and round -the -clock accessibility, and not by correlation with other assets. Stretegy (former Microstrategy) is the largest company – a public bitcoin holder.
Source: Bits
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