Michael Saylor’s firm and strong spot Bitcoin ETF holders have stabilised Bitcoin prices amid economic uncertainty. Bloomberg analyst Eric Balchunas highlights that recent ETF investments are aiding Bitcoin’s resilience. Saylor’s Strategy firm recently purchased over 3,459 BTC, boosting total holdings to 531,644 BTC. Bitcoin’s volatility remains low, maintaining value above its previous all-time high.
Analysts indicate that Bitcoin’s recent stability in price, despite macroeconomic challenges, is likely due to robust spot Bitcoin ETF holders and aggressive buying by Michael Saylor’s firm. According to Bloomberg ETF analyst Eric Balchunas, entities such as ETFs and Saylor have been effectively accumulating Bitcoin during downturns caused by various factors, including market sell-offs and regulatory actions.
Over the past month, Bitcoin ETFs have secured approximately $131.04 million in investments, amassing a total of $2.4 billion since the beginning of January. Balchunas describes this long-term stability as significant, emphasising that the holders of these ETFs demonstrate resilience which can mitigate Bitcoin’s volatility.
On April 14, Michael Saylor’s firm, Strategy, acquired 3,459 BTC for $285.5 million, averaging $82,618 per coin, bringing their total holdings to 531,644 BTC. Concurrently, the Bitcoin Volatility Index shows a relatively low volatility rate of 1.80%, while Bitcoin’s current trading price stands at $84,610, according to CoinMarketCap.
Within the last month, Bitcoin has fluctuated between $75,000 and $88,000, primarily influenced by US economic policies. However, it remains above its prior record high of $73,679, achieved in November. The resilience of Bitcoin has drawn attention, particularly with noteworthy commentary from financial analysts comparing it against the performance of the S&P 500 during this period.
