Bitcoin, would it be $20,000 lower without Saylor?

▲ Bitcoin (BTC), Michael Saylor, Quantum Computer/AI Generated Image

An artificial intelligence analysis suggesting that the price of Bitcoin (BTC) would have been up to $20,000 lower than its current level without the intervention of Strategy (MicroStrategy) is drawing attention.

On April 21 (local time), crypto media outlet Benzinga highlighted Strategy's influence on Bitcoin's price formation, citing an analysis by artificial intelligence 'Grok'. Grok analyzed that the continuous accumulation led by Strategy's Chairman Michael Saylor is exerting strong upward pressure on the market. Saylor's buying strategy is evaluated to have abnormally raised investors' psychological support levels.

According to the analysis, it is highly probable that Bitcoin's value would have been $10,000 to $20,000 lower than its current level if not for the enormous funds invested by Strategy over the past few years. Saylor has consistently carried out large-scale purchases regardless of market conditions, playing a role in defending against price drops. This behavior is interpreted to have influenced individual investors to perceive Bitcoin as a relatively stable asset.

Grok pointed out that Strategy's aggressive buying spree is distorting the market's natural price discovery function. The analysis suggests that as the influence of a specific whale investor expands, a structure has formed where Bitcoin's price reacts more sensitively to Saylor's accumulation schedule than to actual demand. This has raised concerns among institutional investors that market volatility could structurally increase.

Strategy recently invested $2.54 billion to increase its Bitcoin holdings to 815,061 BTC. Saylor maintains his intention to mobilize all available funds to purchase additional Bitcoin in the future.

However, some in the market point out that the current structure, which relies on the capital power of a specific company or individual, could be a long-term risk factor. For the stable growth of the Bitcoin ecosystem, an organic demand base that does not depend on a specific entity is deemed necessary. The analysis suggests that investors need to closely examine the discrepancy between Strategy's accumulation volume and actual market demand.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*