Despite losing over 20% over the past month amid weak ETF demand and uncertainty around Strategy Inc. (NASDAQ:MSTR), Bitcoin (CRYPTO: BTC) is holding $60,000 and could be a promising long-term investment, analysts argue.
BTC Flashing Signs Of Bear Market Bottom
In a podcast on June 22, crypto analyst InvestAnswers urged investors not to panic, arguing that Bitcoin is showing several signs of a late-stage bear market bottom.
He noted that Bitcoin remains down around 12% in June, even though the asset has rebounded roughly $3,000 since Thursday without meaningful support from spot Bitcoin ETFs.
“Long-term holder supply has hit a spectacular new all-time high,” he said, adding that 16.62 million Bitcoin are now held by long-term investors.
This signals that patient holders are removing supply from circulation, setting up a potential squeeze when demand returns.
InvestAnswers pushed back against fears that Fed Reserve policy remains the main driver of BTC price action. He made a similar argument about global liquidity, saying Bitcoin has fallen even as liquidity has risen since 2024.
“Bitcoin behaves as an independent sovereign apex predator,” he said.
Is Strategy Ok?
Turning to Strategy, the analyst said fears around Michael Saylor’s Bitcoin buying model intensified after the company recently sold 32 Bitcoin.
The company last week bought additional Bitcoin and raised its cash reserve to about $1.4 billion, which could cover roughly 12 months of STRC dividends.
He also noted that Strategy CEO Phong Le bought $1 million worth of STRC, a move intended to show confidence while the preferred stock trades below par.
“Once Bitcoin gets back up north of $100,000, this thing will rocket,” he said.
The Long-Term Asset Outlook
The analyst also cited AI-based probability models that ranked Bitcoin as the asset with the highest chance of creating the most wealth over the next 30 years, narrowly ahead of Tesla Inc. (NASDAQ:TSLA) and SpaceX.
He said Bitcoin’s case rests on digital scarcity, with over 95.5% of all Bitcoin already mined and only 4.5% left to be issued over the next 120 years.
He framed Bitcoin, Tesla and SpaceX as assets tied to either scarcity or exponential growth.
Image: Shutterstock
Recent Comments