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

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

An AI analysis suggesting that Bitcoin (BTC) prices would have been up to $20,000 lower than current levels without the intervention of Strategy is garnering attention.

Crypto-specialized media outlet Benzinga, in a report on April 21 (local time), highlighted Strategy's influence on Bitcoin price formation, citing analysis from the artificial intelligence 'Grok'. Grok analyzed that the continuous accumulation led by Michael Saylor, Chairman of Strategy, is exerting strong upward pressure on the market. Saylor's buying strategy is assessed to have abnormally raised investors' psychological support levels.

According to the analysis, without the massive funds invested by Strategy over the past few years, Bitcoin's value would likely have been formed $10,000 to $20,000 lower than its current level. Saylor has consistently made large-scale purchases regardless of market conditions, acting as a defense 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, Bitcoin's price has become more sensitive 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 more Bitcoin in the future.

However, some market participants point out that the current structure, which relies on the capital power of a specific company or individual, could become a long-term risk factor. For the stable growth of the Bitcoin ecosystem, it is assessed that an organic demand base that does not depend on a specific entity is needed. 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 investment losses based on it. The content should be interpreted for informational purposes only.*