According to Blockworks, Empire analyst Jason Yanowitz pointed out that without MicroStrategy’s recent investment of over $20 billion in BTC, the current price of BTC would be much lower. Yanowitz believes that the market is still in the early stages of the cycle, mainly based on the fact that venture capital funds have not yet entered the market on a large scale, and the market is still in a “very PvP” state.
Dan Matuszewski of CMS Holdings agrees, pointing out that the impact of the bear market in 2021 is still ongoing, with a lack of market liquidity and a lack of substantial capital inflows. Venture capital remains a key measure of alternative investments. Investor Santiago Santos adds that aside from a few selective opportunities, the market has yet to see more capital inflows, which also confirms the judgment that we are still in the early stages of the cycle.
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