According to Saylor, Bitcoin is uncorrelated to traditional risk assets because it doesn’t come with exposure to any given country or other traditional potential risk elements. Hence, it qualifies as a natural addition to the portfolio of any responsible investor.
Saylor spoke on the impact of the recently launched ETFs on the Bitcoin price, noting that people waited long for the ETFs to be approved. Therefore, the increased demand from mainstream investors to be able to access Bitcoin is driving the surge of capital in the asset class.
The renowned investor noted that Bitcoin has found its footing following a rebalancing shortly after the ETFs were approved. According to him, the rebalancing happened because investors moved capital between the futures market, the miners, and the ETFs. Saylor thinks people are realizing that there is ten times more demand for Bitcoin coming into the ETFs than there is supply coming from the natural sellers.
Bitcoin broke above $50,000 for the first time since December 2021, following a week-long sustained rally. The pioneer cryptocurrency gained 18% in the last seven days and traded for $50,016 at the time of writing, according to data from TradingView.
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