Industry insiders: MicroStrategy's purchases have supported Bitcoin prices, and this cycle is still in its early stages

Odaily News Jason Yanowitz from Empire believes that without the more than $20 billion spending spree by MicroStrategy founder Michael Saylor from the end of last year to this year, the price of Bitcoin would be much lower than it is now. As a result, he believes that this puts us in the early stages of this cycle. In addition, he mentioned: "We haven't seen enough venture capital, it's 'very PvP'." His view was supported by Dan Matuszewski from CMS Holdings, who said: "My guess is that the aftermath of 2021 is still there. Liquidity is basically non-existent, so there is no way to substantially drive flows or collect inflows. Venture capital remains the measure of alternative investments." (Blockworks)