Lyn Alden says Bitcoin needs no savior as Strategy sells $216M of BTC

Source: Matthew Sigel She noted that STRC has become the biggest preferred security in the market, but warned that higher-yielding BTC-linked products can encourage investors to take on additional leverage. Related: Strategy’s Bitcoin sale may give BTC a ‘durable bottom,’ Grayscale says She added that Strategy’s recent steps to rebuild its reserve coverage and introduce additional safeguards were reasonable responses to the market stress, though the long-term performance of the product still depends on Bitcoin’s price action. Alden also discussed Bitcoin Improvement Proposal 110 (BIP-110), which aims to reduce network spam by limiting data-heavy transactions, including those used to store images. Alden said she is generally cautious about efforts to change Bitcoin’s rules quickly, warning that some proposals could make the network more complex or affect its existing safeguards. Source: Eric Balchunas She said she would analyze the technical arguments for and against protocol changes, but criticized the way some proposals are presented to the public. Alden argued that framing a protocol change as an “existential issue” for Bitcoin exaggerates the stakes, calling that approach “incorrect marketing.” Magazine: Has Bitcoin bottomed for this cycle? Analysts say 'not yet' More on the subject