Analysts Discussed: “Bitcoin Should Never Go Below This Level, Crash Could Be 100 Times Worse Than FTX and LUNA Crashes”
The post Analysts Discussed: “Bitcoin Should Never Go Below This Level, Crash Could Be 100 Times Worse Than FTX and LUNA Crashes” appeared on BitcoinEthereumNews.com.
Alliance DAO partners recently expressed concerns in a podcast about potential risks to Bitcoin’s price over the next four years, especially if it falls below $58,000. This figure is believed to be close to the liquidation threshold for MicroStrategy, the publicly traded company that owns one of the largest Bitcoin reserves. MicroStrategy, led by Michael Saylor, has accumulated over 150,000 BTC, representing about 3% of the total Bitcoin supply. According to the podcast, Saylor’s average Bitcoin purchase price is estimated to be $58,000. If Bitcoin falls below this level, the company could face significant liquidation risks. Podcast participants speculated that such an event could potentially lead to a financial crisis “100 times larger” than the collapses of Terra Luna and FTX, both of which sent shockwaves through the cryptocurrency market. On the bright side, the podcast also outlined a rather optimistic scenario where Bitcoin rises to $500,000. Such a price increase would not only validate MicroStrategy’s bold strategy, but it could also make Michael Saylor the richest person in history. A Bitcoin price of $500,000, combined with MicroStrategy’s Bitcoin holdings, could make Saylor the first trillionaire in human history. Michael Saylor has been a strong advocate of Bitcoin, often describing it as “digital gold” and a long-term hedge against inflation. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/analysts-discussed-bitcoin-should-never-go-below-this-level-crash-could-be-100-times-worse-than-ftx-and-luna-crashes/
Filed under: News - @ December 22, 2024 4:07 pm