Saylor, ETF investors’ ‘stronger hands’ help stabilize Bitcoin — Analyst

Bitcoin’s relatively stable price movements despite macroeconomic uncertainty is likely due to resilient spot Bitcoin ETF holders and Michael Saylor’s firm continuing to buy aggressively, according to a Bloomberg analyst.

“The ETFs and Saylor have been buying up all ‘dumps’ from the tourists, FTX refugees, GBTC discounters, legal unlocks, govt confiscations and Lord knows who else,” Bloomberg ETF analyst Eric Balchunas said in an April 16 X post.

Bitcoin ETF holders hold despite market...