Bitcoin Investor Strategy Sees Price Recovery Ahead, Says CEO Phong Le

Strategy, a leading institutional investor in Bitcoin (BTC), continues to maintain its bullish stance on the cryptocurrency despite its recent price drop. In an interview with CNBC, Michael Saylor, the founder of Strategy, stated that Bitcoin has entered a 'spring warm-up phase' after falling from a peak of around $125,000 to around $60,000.

Saylor emphasized that the current price level has strong support and predicted a market recovery. He also pointed out that the additional Bitcoin supply from miners is being completely absorbed by the market, with Strategy alone capable of purchasing all mined BTC until 2140.

The company's CEO, Phong Le, also weighed in on the matter, noting the significance of SpaceX's upcoming IPO. With Elon Musk's space exploration company going public, it will join the likes of Tesla and other major tech stocks holding Bitcoin on their balance sheets. According to Le, this means that 25% of the new group of eight largest US technology companies by market capitalization will hold Bitcoin.