Analyst: MSTR is the “Mullet” of this Bitcoin Bull Cycle, Acting as a Bitcoin Pressure Relief

BlockBeats News, January 14th, CoinDesk analyst James Van Straten wrote, "In this cycle, Strategy (MSTR) took on about 75% of the drawdown, preventing Bitcoin itself from experiencing an equivalent decline, as volatility shifted from spot Bitcoin to MSTR common stock.

At the same time, Michael Saylor issued a large number of shares at about 1x mNAV, acting as the ultimate buyer, thereby somewhat suppressing the formation of a bear market."