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.
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