Strategy supporters rebut ‘death spiral’ fears as bitcoin price wobbles
The Block·
60-second summary
Bitcoin price wobbles amidst 'death spiral' concerns, with Strategy supporters pushing back against the narrative. Benchmark disputes the notion, stating the death-spiral story assumes one bad week of selling bitcoins without considering intervening steps. This rebuff comes as the price fluctuates, sparking debate among investors about the potential impact on the cryptocurrency market's stability and future growth prospects.
"The death-spiral story assumes that Strategy is one bad week from selling bitcoins, and it skips several steps to get there," said Benchmark.