Svmuu News Michael Saylor, founder of MicroStrategy, stated that Bitcoin likely bottomed around the $60,000 level in February this year, driven more by a contraction in seller supply than by traditional valuation factors. He pointed out that continuous ETF inflows are absorbing new market supply, while corporate adoption of Bitcoin for treasury allocations is providing stable demand.
Saylor believes that a key future driver for price action may lie in the credit system being built around Bitcoin, transforming it from a non-yielding asset into a capital markets instrument. Regarding the threat of quantum computing, he stated that the associated risks are overestimated and remain largely theoretical in the short term. (CoinDesk)