Bitwise CIO: Strategy's Role in the Bitcoin Market Has Fundamentally Changed

Jinse Finance reported that on July 2, Bitwise Chief Investment Officer Matt Hougan stated that Strategy's role in the Bitcoin market has fundamentally changed. For many years, it was the world's most important Bitcoin buyer, continuously providing long-side demand to the market. However, this era of one-sided accumulation is likely coming to an end. Going forward, Strategy will flexibly buy and sell Bitcoin according to market conditions. Importantly, it will not conduct large-scale selling. The current mechanism does not force Strategy to sell billions of dollars worth of Bitcoin each year; once Bitcoin enters a bull market, Strategy is still likely to return to a net buying position. However, in the next cycle, its influence on the Bitcoin market will be far less than it was in the previous one.