Veteran commodity trader Peter Brandt has suggested that the U.S. should force Strategy co-founder Michael Saylor to liquidate his Bitcoin holdings.
The U.S. government could then start stacking BTC at much lower prices (around $30,000 per coin).
The U.S. government could then hold BTC as part of a reserve strategy, Brandt argues.
Brandt also seemingly picked up a ridiculous conspiracy theory about Strategy being a US government honeypot.
The trader’s outlandish takes have received some pushback from the community.
“Stick with TA. There is no price where Saylor is forced into liquidation. Have to actually read a document for this one. Can’t just use crayons and rulers,” Arca CIO Jeff Dorman quipped.
Still a Bitcoin bull
Brandt has stressed that he still owns 40% of his maximum Bitcoin position, which he bought at a price much lower than Saylor’s average.
He frames a potential “dump” or forced liquidation as a market reset that could actually benefit Bitcoin in the long run.
He predicts that the next major bull run could take Bitcoin to around $200,000 by roughly Q3 2029.
Will Strategy face outflows?
Meanwhile, JPMorgan is warning that MSCI is considering removing MicroStrategy from its equity indices because MicroStrategy holds a significant amount of Bitcoin on its balance sheet.
Some index providers are concerned that companies with large cryptocurrency exposure may not fit the traditional index criteria.
$2.8 billion could be forced out by funds that track these indices. Index-tracking funds automatically sell the stock if it’s no longer part of the index.
Large forced outflows can create significant downward pressure on the stock price, which has already collapsed this year.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team