Bitcoin, Stability Amid Falling Asset Markets... What Are the Reasons Experts Say?

Bloomberg Researcher: "US BTC Spot ETF and Saylor Support BTC Price Defense"
"Contributing to BTC Price Stabilization by Fully Absorbing Market Sell Volumes"

An analysis has emerged suggesting that Michael Saylor and the US Bitcoin Spot ETF are the reasons for defending Bitcoin (BTC) prices amid asset market decline due to global trade wars.

On the 17th, Bloomberg ETF Researcher Eric Balchunas claimed through his X account that Michael Saylor and the US Bitcoin Spot ETF recorded high buying volumes regardless of Bitcoin prices, helping to stabilize Bitcoin prices.

Balchunas explained, "The US Bitcoin Spot ETF recorded net inflows over the past month" and "The net inflow amount attracted by the US Bitcoin Spot ETF over the past month reached $131.04 million, which is a very impressive figure."

He emphasized that "those investing in Bitcoin Spot ETF show a more robust investment strategy and stable patterns compared to typical investors."

Balchunas also pointed out Michael Saylor's strategy of Bitcoin accumulation regardless of Bitcoin prices. He described, "The US Bitcoin Spot ETF and Michael Saylor have massively accumulated volumes from short-term investors, FTX creditors, and government over the past 15 months, which brought stability to Bitcoin prices."

In fact, on the 14th, the strategy invested $285.5 million (approximately 406.1 billion won) to purchase 3,459 Bitcoins. As of the 18th, the strategy's Bitcoin holdings are 531,644 coins.

Reporter Seung-won Kwon ksw@blockstreet.co.kr