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Joe Burnett: Strategy holds $51.5B of BTC and $10.5B of STRC outstanding
Joe Burnett contrasts the state of Luna and UST prior to their collapse with the current situation of Strategy. He observes that before Luna and UST failed, about $18.7B of UST was circulating, backed by only $3.1B of BTC, with UST instantly redeemable. In comparison, Strategy today holds $51.5B in BTC with $10.5B in STRC outstanding, but STRC is not instantly redeemable. Burnett emphasizes that these situations are fundamentally different.
Burnett has previously noted that bitcoin now trades below its all-time high from five years ago, a pattern seen as recently as 2022 (link). In another observation, he pointed out that bitcoin hit a record high about eight months ago, yet sentiment has remained weak (link). These comments reflect his ongoing attention to shifts in bitcoin’s market position and investor sentiment.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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