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via BeInCrypto · By Lockridge Okoth

MicroStrategy’s Saylor Says Miners No Longer Set Bitcoin Price, Another Force Has Taken Over

BTC

BTC/USDT

$62,553.73

-2.12%

$62,553.73

-2.12%

(24s)

24h Volume

$18,150,954,714.09

24h H/L

$64,275.38 / $61,938.00

Change: $2,337.38 (3.77%)

Long/Short

68.4%

Long: 68.4%Short: 31.6%

Funding Rate

+0.0012%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$62,528.07

▼ -2.33%

Volume (24h): -

Resistance Levels

Resistance 3$68,191.60

Resistance 2$64,665.73

Resistance 1$62,911.84

Price$62,528.07

Support 1$61,834.89

Support 2$60,587.90

Support 3$59,158.90

Pivot (PP):$62,913.82

Trend:Downtrend

RSI (14):36.8

Lockridge Okoth

(03:54 PM UTC)

1 min read

Updated byJames Mitchell

1004 views

0 comments

Michael Saylor argues Bitcoin miners no longer determine the price of Bitcoin (BTC). The MicroStrategy executive chair says structured credit products now absorb every coin produced. That shift moves pricing power from mining output to institutional credit demand.

MicroStrategy will likely buy every bitcoin produced by miners until 2140, according to Saylor, with the firm’s STRC preferred…

COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.

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Source

Lockridge Okoth · BeInCrypto

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