Shocking Claims from a Giant Bank: “Famous Bull Michael Saylor Is Not Good for Bitcoin! He Poses a Great Risk for BTC!” Here’s Why…

The largest institutional Bitcoin bull Strategy (MicroStrategy) continues its aggressive buying. While Strategy’s buying strategy was thought to be positive for BTC, a negative comment came from Swiss cryptocurrency bank Sygnum. Accordingly, Sygnum Bank said in a recent report that Strategy’s aggressive buying strategy could undermine Bitcoin’s safe haven status. Strategy’s goal of owning 5% of the BTC supply could undermine Bitcoin’s suitability as a reserve asset for central banks, according to the report. “Strategy’s 3% stake in Bitcoin is approaching problematic levels, threatening Bitcoin’s reserve asset status.” So far, Strategy has purchased a total of 582,000 Bitcoins, which is almost 3% of the BTC supply. The bank noted that Strategy leveraged the convertible bond to buy more BTC, as well as the momentum of its own stock price during bull runs. However, Sygnum Bank said that if the BTC price enters a prolonged decline and Strategy’s stock price falls below the conversion prices of its outstanding bonds, the structure that Strategy has set up will crack and it may be forced to liquidate some of its Bitcoin assets to meet its debt obligations. “If Strategy chooses to sell Bitcoin to avoid the additional burden of a stock decline, the outcome could be very damaging for the market.” *This is not investment advice. Continue Reading: Shocking Claims from a Giant Bank: “Famous Bull Michael Saylor Is Not Good for Bitcoin! He Poses a Great Risk for BTC!” Here’s Why…

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