How do you buy Bitcoin from the strategy of BTC? Weighs Sigl and BTC recovers 90 thousand dollars

VANECK Matthew Sigel has analyzed the effect of Bitcoin’s purchases from the strategy amid a wonderful batch by The Crypto Pestborn.

like Bitcoin Market monitors exceed $ 90,000 for the first time in more than a month, again questioning the impact of buying the strategy on BTC prices. However, new ideas from the head of digital asset research at Vaneck, Matthew Sigge, indicate that fears of manipulation of the market or artificial prices may be exaggerated.

How do you buy bitcoin for strategy effect?

According to For SIGEL, which was martyred with data from the Bank Investment TD Cowen, the purchases of the weekly Bitcoin (Microstrategy) of the previous Microstrategy (Microstrategy) (Microstrategy) (formerly Microstrategy) is a small part of the general activity.

On average, the company contributes about 8.4 % of the total weekly purchase volume, although this number is deviant with some exceptionally large weeks. In most cases, its market share remains in one numbers low, about 3.3 %, and there are several weeks when the company does not buy any bitcoin.

It is worth noting that statistical data support Idea The effect of this strategy on price trends is the minimum. Sigel only found a weak connection, about 25 %, between the size of the company’s bitcoin purchase of the company and the BTC’s weekly closure price.

In addition, the relationship with price changes Over the course of Likely low week at 28 %. These numbers indicate that the company’s activity has no meaningful or predictable effect on Bitcoin behavior in the short term.

Meanwhile, he also took fears about new Bitcoin supplies from mines. His research shows that the volume of secondary market trading in Bitcoin greatly exceeds mining outputs, which makes miners less influential in determining prices.

Even when looking at Microstrategy, the secondary market activity remains more than 17 times from the total New supply, confirming Scenery This major institutional purchases such as Microstrategy Do not distort the total market.

Bitcoin recovers $ 90,000 shortly after announcing the strategy

The timing of this analysis is particularly appropriate, and it comes immediately The latest acquisition strategy. Yesterday, on April 21, the company unveiled the purchase of 6,556 BTC between April 14 and April 20, at an average of $ 84,785 per currency.

The acquisition, which totals about 555.8 million dollars, reaches the company’s total biases to 538200 BTC. With this addition, the strategy now has approximately 2.5 % of all the current Bitcoin, which has been purchased at an average cost of $ 66384 per currency.

After this announcement, the Bitcoin price saw a significant increase, recovery of $ 90,000 and climb 90,718 dollars. Interestingly, the basic principle increased by 3.78 % today after an increase of 3 % yesterday.

The increase has revived the discussions on whether the strategy purchases have directly affected the prices. However, a data -based Signle suspension suggests that the wider market conditions in the market and investor morale may have a greater impact than one company’s behavior.

For context, critics such as economists and gold defenders Peter Chef defended this novel. Chef has long argued that the aggressive bitcoin accumulation of the strategy leads to artificially exaggerating prices. In particular, I suggested this in June 2021.

this #Bitcoin Rally is a gift for sellers from Michael_saylor. #Microsrategy He pays 6.125 % to borrow $ 500 million for 7 years to buy more bitcoin. Traders are running in this trade, where they are now buying for sale later to MSTR at higher prices. Once Mstr Bitcoin is filled with the tank.

– Peter Chef (@PETERSCHEFF) June 9, 2021

The company accuses the establishment of unnecessary price pools Warn Its strategy, which is dramatically funded by debt and shares of stocks, can lead to a financial disaster if the value of bitcoin decreases. Chef also described the company’s actions as adjacent to the manipulation of the market.