For years, one of the biggest Bitcoin FUD narratives was this:


"If Michael Saylor ever sells his Bitcoin, it'll trigger a massive cascade of selling and Bitcoin will collapse."
Some even predicted prices below $10,000.
Well... that theory has finally been tested.
Strategy recently sold 3,588 BTC, its largest Bitcoin sale ever. Yet Bitcoin barely reacted before recovering. The market absorbed the selling pressure remarkably well.
The myth has finally been broken. One of Bitcoin's biggest long standing fears has been put to the test, and the market passed.
A few months ago, I mentioned that the $55,000 region could mark the cycle bottom. Bitcoin eventually tested around that area and bounced strongly. Whether that turns out to be the exact bottom or not, one thing has become much clearer.
One of the biggest bearish narratives is now behind us.
What's even more interesting is that Michael Saylor has repeatedly said that if he ever sells Bitcoin, he'd look to buy back even more over time.
If people believed his selling would be a black swan event, imagine what an aggressive buying spree could look like.
Fasten your seatbelts.
BTC-2.92%
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