Bitcoin price experienced a sharp decline, falling below $89,000 for the first time in three months on February 25. The crypto lost over 8% in value within a single day, triggering widespread concern among investors. However, Eric Trump, the son of U.S. President Donald Trump, took to X to encourage investors to capitalize on the crypto market selloff.

Eric Trump Encourages Investors to Buy the Dip

In a recent post on X, the son of U.S. President Donald Trump weighed in on the crypto market selloff, urging investors to “Buy the dips!” His message resonated with those who view corrections as a chance to accumulate Bitcoin at lower prices. Eric Trump’s statement sparked reactions across the crypto community, with some seeing it as a show of confidence in Bitcoin’s long-term potential.

Michael Saylor, Executive Chairman of Strategy, also responded to the crypto market decline. He referred to the price drop as a “Bitcoin sale,” hinting that his company may take advantage of the lower prices. Saylor has consistently supported Bitcoin and led Strategy to accumulate significant holdings over the years.

Reacting to Eric Trump’s tweet, the CEO of Strategy added,

“The best advice, volatility is a gift to the faithful.”

Despite optimism from some, skepticism remained among other financial experts. Gold advocate Peter Schiff dismissed the idea of buying the dip, warning that further declines could follow. Schiff has long criticized Bitcoin, arguing that it remains a speculative asset prone to severe price swings.

MicroStrategy Continues Expanding Its Bitcoin Holdings

Amid the crypto market selloff, Strategy, formerly MicroStrategy, confirmed another major Bitcoin acquisition. The firm announced a $2 billion purchase, securing 20,365 BTC at an average price of $97,514 per coin. This addition aligns with the company’s long-term accumulation strategy, which aims to hold $42 billion worth of Bitcoin over the next three years.

Following its latest purchase, Strategy’s Bitcoin holdings have grown to approximately 499,096 BTC, valued at around $47 billion based on current prices. This represents nearly 2.4% of Bitcoin’s total supply, positioning the company as the largest corporate Bitcoin holder.

The company has continued its buying strategy despite fluctuations in Bitcoin price. While some view this as a commitment to long-term investment, others caution that the strategy carries risks given the volatile crypto market.

A Buying Opportunity or Further Declines?

The broader crypto market also experienced losses, with Ethereum (ETH) dropping 9% to $2,405 and Solana (SOL) falling 7% to $143. Bitcoin’s market capitalization fell to $1.76 trillion, reflecting increased selling pressure across digital assets.

Meanwhile, Standard Chartered’s head of crypto research, Geoff Kendrick, suggested that Bitcoin could see further declines. He predicted an additional 10% drop, potentially bringing prices down to the early $80,000 range. Kendrick pointed to ongoing outflows from U.S. Bitcoin spot ETFs as a key factor that could contribute to extended losses.

BITCOIN COULD FALL FURTHER AFTER BREAKING BELOW $90K: STANDARD CHARTERED

Bitcoin has hit a three-month low below $90,000, and Standard Chartered’s Geoff Kendrick expects it to fall further. While still performing “relatively well,” bitcoin is caught in a broader cryptocurrency…

— *Walter Bloomberg (@DeItaone) February 25, 2025

While some, like Eric Trump and Michael Saylor, view the current crypto market selloff as an opportunity, others remain cautious about the potential for further downside.

The post Eric Trump Urges Investors To Buy The Dip Amid Crypto Market Selloff appeared first on CoinGape.

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Filed under: News - @ February 25, 2025 5:25 pm