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Strategy Inc (NASDAQ:MSTR) Executive Chairman Michael Saylor is working on a “flywheel” to propel Bitcoin (CRYPTO: BTC) to his $1 million price target, according to prominent industry experts.
Why Traders Think The “Flywheel” Is Strengthening
Prominent Bitcoin advocate Scott Melker argued on the Lark Davis show on May 15 that investors are increasingly front-running expected Bitcoin purchases tied to Strategy’s capital raises and preferred-share programs.
“If STRC remains popular, it becomes a self-fulfilling flywheel,” the analyst said.
Strategy’s STRC preferred shares reportedly moved back above par value, potentially allowing the company to accelerate additional Bitcoin purchases.
Strategy could continue purchasing billions of dollars’ worth of Bitcoin on a …
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