ChainCatcher message, Strike founder Jack Mallers stated, “Bitcoin is not a software company. The reason it’s traded like a tech stock is because many holders don’t truly understand it. This pullback is indeed painful, but it may be clearing out leveraged ‘software capital,’ allowing Bitcoin to ultimately be priced and traded based on its ‘hard currency’ properties. Hang in there. Buy the dip (BTFD). No one knows where the price is headed, but based on historical data, if you believe Bitcoin won’t drop to zero, now is a good time to start dollar-cost averaging.”
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