Arthur Hayes, co-founder of BitMEX, is buying Bitcoin at a discounted price.
Petr Kozyakov, CEO of Mercuryo, remains bullish on Bitcoin’s long-term prospects.
Jack Dorsey, former CEO of Twitter, is skeptical about Bitcoin’s use case.
Michael Saylor, CEO of MicroStrategy, has been accumulating Bitcoin since 2020.
Trump Tariffs Spark Bitcoin Volatility as Holders Embark on Counterintuitive Buying Spree
The global financial markets have long been used to the whims of Donald Trump, and his latest tariff announcement has sent shockwaves through the cryptocurrency world. As the price of Bitcoin continues to fluctuate, many holders are experiencing renewed pressure, while others are seizing the opportunity to buy in at a discounted price.
Holders Remain Bullish
One such individual is Arthur Hayes, co-founder of BitMEX, who took to Twitter on April 7 to reveal that he had been “nibbling on BTC all day, and shall continue.” Hayes’ confidence in the cryptocurrency’s long-term prospects is unwavering, and he believes that its dominance in the broader crypto market could grow from its current 60.5% to 70%.
Petr Kozyakov, co-founder and CEO of the payments infrastructure platform Mercuryo, echoed this sentiment, stating that many traders are waiting on the sidelines, weighing whether the market has been oversold. Despite short-term uncertainty, Kozyakov remains bullish on Bitcoin’s long-term outlook, describing it as “the new digital gold.”
Jack Dorsey Skeptical
However, not everyone shares this optimism. Jack Dorsey, former CEO of Twitter and serial crypto entrepreneur, is skeptical about whether Bitcoin can succeed as a pure store of value. In a recent podcast appearance, Dorsey emphasized the importance of a use case for Bitcoin beyond its store-of-value narrative. “If it [Bitcoin] just ends up being a store of value and nothing more, I don’t think it gains relevance at all,” he said.
The Debate Surrounding Bitcoin
The debate surrounding Bitcoin’s use case is not new, and opinions are often sharply divided. However, as the cryptocurrency continues to evolve, it is clear that its ability to facilitate payments will be a crucial factor in its long-term success.
Buying the Dip
Despite the uncertainty, some are capitalizing on the current market conditions. As mentioned earlier, Hayes is buying in at a discounted price, and his firm, Maelstrom, has reportedly been accumulating Bitcoin since December 2024. This strategy is not unique, as many investors are using the current market downturn to buy in at a cheaper price.
Michael Saylor, CEO of MicroStrategy, is another prominent investor who believes in the strategy of buying in during market downturns. As reported by Cointelegraph, Saylor has been accumulating Bitcoin since 2020, and his company has become one of the largest institutional holders of the cryptocurrency.
Strategies for Investors
However, not everyone is convinced by the strategy of buying in during market downturns. Some experts believe that the current market conditions are unsustainable and that a deeper correction is inevitable. In this scenario, it is essential for investors to have a well-thought-out strategy in place to minimize losses and maximize potential gains.
The current market conditions are a perfect example of the volatility and unpredictability of the cryptocurrency world. While some are capitalizing on the opportunities presented by the current market downturn, others are waiting on the sidelines, weighing their options. As always, it is essential for investors to have a clear understanding of their goals and risk tolerance before deciding on a course of action.
The debate surrounding Bitcoin’s use case will likely continue to rage on, and its ability to facilitate payments will be a crucial factor in its long-term success. As the cryptocurrency continues to evolve, it is essential for investors to stay informed and adapt to changing conditions. For those willing to take the risk, the current market conditions present a unique opportunity to buy in at a discounted price and potentially reap significant rewards in the long term.
