Early Uber Investor "Bitcoin wouldn't have maintained its price without Saylor"

▲ Bitcoin (BTC)

A Silicon Valley titan investor raised fundamental questions about the influence of a specific company on Bitcoin (Bitcoin, BTC) price formation. This sparked a debate about market valuation.

In an article reported on April 21 (local time) by the cryptocurrency specialized media outlet U.Today, renowned angel investor and early Uber investor Jason Calacanis asked via his X (formerly Twitter) account, "Would Bitcoin have been able to maintain its current price without the buying pressure from certain large investors?" His remarks reflect a skeptical view of the Bitcoin market's organic demand.

Calacanis questioned what Bitcoin's price would be now if Strategy, led by Michael Saylor, had not invested over $61 billion in Bitcoin since 2020. Saylor has continuously accumulated Bitcoin using corporate funds, acting as a strong supporting force in the market. Calacanis's point is interpreted as suggesting that Bitcoin's price is overly supported by the aggressive buying pressure of a specific company.

U.Today cited data from the AI analysis platform NS3.AI to provide specific figures regarding this question. According to the analysis, if Saylor's Strategy had not intervened in the Bitcoin market, the current Bitcoin price is estimated to have been about $10,000 to $20,000 lower than it is now. Considering that Bitcoin is currently trading around $75,000, Saylor's buying pressure has had a significant price defense effect.

Market experts evaluate Calacanis's remarks as an opportunity to reconsider the liquidity of the virtual asset market and the dominance of institutional investors. Concerns are also raised that the solo run of a specific whale investor could distort the market's natural price discovery function. However, some strongly argue that Saylor's actions have boosted Bitcoin's credibility, leading other institutions to enter the market. They assert that various complex variables influencing price formation must be considered.

Calacanis's question suggests challenges Bitcoin must address to prove its true intrinsic value. With Strategy's influence still formidable, the market is closely watching how sensitively future price volatility will react to the actions of specific investors. The expansion of Bitcoin's organic demand is expected to be a key variable determining long-term price trends.

*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.*