WuTalk Daily Selected Crypto News - JPMorgan: The short-term key for Bitcoin lies in the risk of Strategy selling, with a mid-term theoretical valuation of around $170,0001. JPMorgan: Bitcoin's Short-Term Key Lies in Strategy's Selling Risk; Mid-Term Theoretical Valuation Around $170,000
JPMorgan's latest research report states that the key factor determining Bitcoin's short-term trend is not miner selling pressure, but whether Strategy (MSTR) can maintain its enterprise value/Bitcoin holdings market value ratio (EV/BTC) above 1, thereby avoiding forced BTC sales. This ratio is currently about 1.13, and Strategy has already established $1.44 billion in reserves, which can cover two years of interest and dividends, reducing the risk of forced coin sales. If MSCI ultimately does not remove it on January 15, MSTR and BTC could see a strong rebound; even if it is removed, the negative impact has largely been priced in. JPMorgan continues to maintain its mid-term target price model, with BTC's theoretical valuation around $170,000.
Read the original
2. Wang Yongli
WuSaidBlockchainW·12h ago