Is The Bitcoin Price ‘Manipulated’? Strategy CFO Addresses The Rumors

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Bitcoin’s late-year stoop has revived a well-known on-line chorus that the market is “managed” and value is being suppressed however Strategy CFO Andrew Kang mentioned the manipulation thesis doesn’t sq. with Bitcoin’s scale, and that even giant, extremely liquid public automobiles wrestle to maneuver the needle.

Speaking on Natalie Brunell’s Coin Stories in an interview dated Dec. 30, Kang framed latest bearish sentiment as much less about Bitcoin-specific weak spot and extra about how the asset nonetheless trades inside a broader threat regime formed by macro uncertainty, price expectations, and tech volatility.

Is The Bitcoin Price ‘Manipulated’?

Brunell requested Kang to deal with hypothesis that Bitcoin has been manipulated “during the last quarter or so,” a story some commentators tie to the Oct. 10 liquidation occasion and the timing of an MSCI memo about potential index methodology adjustments for digital-asset-treasury corporations.

Kang didn’t rule out that some actors could wish to affect markets, however he dismissed the thought of a coordinated, systemic suppression plan as implausible at Bitcoin’s present market measurement.

“I actually, you understand, I believe quite a lot of that comes from issues which are enjoyable to speak about,” Kang mentioned. “Could there be minds that assume like that? Most probably. But I believe for the size wherein we function, the magnitude of what Bitcoin is at the moment on this market, it’s onerous for anybody actor to actually manipulate the market. And for there to be a systemic type of plan to do this feels a little bit far-reaching to me.”

He added that conspiracy narratives usually get stapled to Strategy itself together with claims that its fairness issuance or weekly shopping for is “why this occurred” however argued that the asset has grown past any single company treasury’s potential to steer value motion meaningfully.

“The reality is Bitcoin is such an enormous asset class now,” Kang mentioned. “Even Strategy has a tough time doing one thing that impacts it.”

The Real Reasons For BTC’s Price Action

Kang repeatedly returned to the concept that Bitcoin stays an “rising asset,” and that volatility is a function of its present stage of adoption slightly than proof of hidden palms. He pointed to his personal entry level in 2022, a yr he recalled as a harsh lesson in draw back strikes, and argued that at the moment’s sentiment doesn’t look uniquely Bitcoin-driven.

“To me [the sentiment] isn’t Bitcoin particular,” Kang mentioned, describing Bitcoin as nonetheless “seen as a threat asset inside a broader macro atmosphere.” He cited uncertainty round Federal Reserve coverage and price expectations subsequent yr, whereas emphasizing that the long-term “intrinsic values” Bitcoiners cite, like finite provide and store-of-value framing, “nonetheless persist.”

In one in every of his most emphatic passages, Kang laid out a sweeping view of Bitcoin’s long-run trajectory as Strategy’s rationale for persevering with to boost capital and add to its steadiness sheet.

“There’s nonetheless extra upside to Bitcoin. We realize it’s going to go from the place it’s at the moment to, you understand, again to $125K, as much as $200K, as much as 1,000,000, as much as 21 million in the future,” Kang mentioned. “That all nonetheless goes to occur. It simply goes to occur over a time period. And there’s going to be volatility related to it.”

At press time, BTC traded at $88,730.

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