Bitcoin OGS is responsible for the recently observed sales pressure, according to Strategy co-founder Michael Saylor.
“Now I think the sale is being done by Crypto OGS, who has had a lot of money for a long time,” he said during a recent podcast appearance.
Furthermore, the market is absorbing all these coins and building their support levels.
“Bitcoin Rich, Fiat is poor”
During her podcast appearance, Saylor explained why long-term holders suddenly sell their holdings.
“There are a lot of people who own a lot of bitcoin, but they can’t get a loan for it. And suddenly you realize that bitcoin is rich because they can’t get a loan for it, but you’re fiat poor, you don’t have a lot of dollars, but you have a bitcoin, and you won’t be able to borrow it.
According to Saylor, Bitcoin is similar to an epic 7 startup, suddenly all employees have enriched the stock options for penny, but they have to sell because they can’t borrow against them.
However, this does not necessarily mean that they are not confident in the company.
“They just have kids going to college. They want to buy the right home they want to live comfortably,” Saylor said.
Low volatility
According to Saylor, Bitcoin O.GS Sold as “what you need” is actually beneficial for BTC. This is because it helps reduce the volatility of major cryptocurrencies.
This ensures that the engine feels more comfortable when entering the BTC.
“We want to reduce volatility so that mega engines feel comfortable entering a sized space,” Saylor explained.
