MicroStrategy CEO: Garbage Data Holds Bitcoin Market Development
The CEO of MicroStrategy, which previously invested $ 425 million in bitcoin, Michael Sailor considers the available data on the state of the cryptocurrency market to be “junk”. They do not reflect the real liquidity that he was able to estimate during his own investments, Sailor said during an interview with Hedgeye CEO Keith McCullough on Tuesday..
The CEO of MicroStrategy referred to Apple’s market tracking app, which shows daily bitcoin trading volume of $ 24.76 billion. According to Saylor, this data, “transmitted to billions of devices around the world,” is highly inflated..
“It’s rubbish. I have learned from my own experience that I cannot buy more than $ 35 million a day without people finding out about it. There can be no way there can be $ 24 billion. It’s just awful, “he said, adding that this factor” holds back Bitcoin. “.
CoinDesk analyst Galen Moore argues that perceptions of “real” bitcoin trading volumes still vary widely. “Data is a marketing tool, not a source of income. Some exchanges deliberately inflate volumes in order to form an appropriate idea of their liquidity, “Moore explained..
“Where else can you find something so compelling to surround such terrible data in other asset classes?” – asks Sailor.
At the same time, the CEO of MicroStrategy admitted that he liked the “fact of a little immaturity of data” because it reflects “the pain and labor that you have to face when you come first or come early.”.
The bitcoin rate exceeded $ 19,000 for the first time since December 2017.The bitcoin price surpassed the psychologically significant level of $ 19,000, taking another step towards…
The Crypto Investor Greed Index hits a record low The Crypto Investor Greed and Fear Index this Thursday reached 5 points and…
The bitcoin rate approached the $ 17,000 mark for the first time in the new year.Bitcoin continues to recover after the New Year’s correction, and today…
Binance exchange opens a mining pool for bitcoin mining Binance cryptocurrency exchange opens its own mining pool, the computing power of which will be…
Bitcoin Bounces $ 900 After Vertical Rise to $ 9,500 Bounced Above $ 9,400 This Thursday, Bitcoin Bounced Back Within Hours…