Bitcoin’s Resilience Amid Market Turbulence: 1.66M BTC Held at Loss Sparks Opportunity Debate
As of May 6, 2025, Bitcoin demonstrates remarkable resilience despite global economic challenges, with 1.66 million BTC (8.34% of circulating supply) currently held at a loss. This situation, valued at over $157 billion, stems from purchases made during market peaks. However, the broader market structure remains strong, with Bitcoin’s price at $94,184 showing surprising stability. On-chain data indicates minimal panic selling, as most holders remain profitable or at breakeven, suggesting long-term confidence in the cryptocurrency’s value proposition.
1.66M Bitcoin Held at a Loss Sparks Debate on Market Opportunity
Nearly 1.66 million BTC—8.34% of Bitcoin’s circulating supply—is currently held at a loss, valued at over $157 billion. This accumulation of underwater positions stems from purchases made during market peaks, yet the broader structure remains resilient.
Bitcoin’s $94,184 price reflects surprising strength amid global economic turbulence. On-chain data reveals minimal panic selling, with most holders either profitable or at breakeven. The market exhibits a rare equilibrium: weak hands have been flushed out, while long-term accumulation patterns suggest bullish conviction.
Analysts point to this divergence as characteristic of Bitcoin’s maturation. Unlike past cycles where widespread losses triggered cascading selloffs, the current landscape shows disciplined holders anchoring price discovery. ’This isn’t capitulation—it’s consolidation,’ remarked one trader reviewing the metrics.
Warren Buffett’s Persistent Bitcoin Skepticism: Seven Years After ’Rat Poison Squared’ Remark
Warren Buffett’s disdain for Bitcoin remains a defining feature of his investment philosophy, seven years after the Berkshire Hathaway chairman famously dismissed the cryptocurrency as "rat poison squared." The 94-year-old investing legend, who recently confirmed his impending departure as CEO, first expressed skepticism in 2013 when Bitcoin traded at $150—a fraction of its current value.
Buffett’s consistent rejection of Bitcoin contrasts sharply with the asset’s maturation into a $1 trillion market. While the Oracle of Omaha maintains his traditionalist stance, institutional adoption continues to accelerate, with spot Bitcoin ETFs now trading on major exchanges like Coinbase and Binance.
The ideological divide highlights a generational shift in finance. Where Buffett sees speculation, crypto proponents see technological inevitability—a schism embodied by Bitcoin’s 150,000% appreciation since his initial criticism.
MicroStrategy’s Bitcoin Strategy and Market Implications
MicroStrategy (MSTR), now rebranded as Strategy, continues to dominate headlines with its aggressive Bitcoin treasury strategy. The company’s recent earnings report, released May 1, has sparked debate over the relevance of traditional financial metrics when applied to Bitcoin-heavy balance sheets. Michael Saylor’s pioneering approach has inspired imitators like Metaplanet, but Strategy’s latest $84 billion capital raise plan underscores its dominance in this niche.
The market’s fixation on MSTR’s "earnings" misses the broader point: the company’s performance is now inextricably linked to Bitcoin’s price movements and financing costs. With accounting standard ASC 2023-08 complicating traditional analysis, investors are forced to view MicroStrategy through a new lens—one where conventional valuation methods give way to crypto market dynamics.
Bitcoin Price Analysis: BTC Price to $91k Before $100k Next
Bitcoin faces short-term bearish pressure despite long-term bullish accumulation by maximalists. The cryptocurrency dipped 1.2% to $94,195 amid broader market volatility, with total crypto capitalization slipping 3% to $3.04 trillion.
Technical indicators suggest potential retreat to $91k before attempting the psychological $100k barrier. Market turbulence is expected to continue following the inverted hammer candlestick formation and upcoming FOMC statement.
Corporate Treasuries to Inject $330 Billion into Bitcoin by 2029: Bernstein
Bernstein analysts project a seismic shift in corporate treasury strategies, forecasting $330 billion in Bitcoin acquisitions over the next five years. The movement will be spearheaded by Michael Saylor’s Strategy (formerly MicroStrategy), with smaller firms rapidly adopting its balance sheet playbook.
Market dynamics now reflect a institutional adoption curve reminiscent of early gold ETF inflows. Strategy’s Nasdaq-listed vehicle has accumulated 214,246 BTC since 2020—a $15 billion position at current prices—demonstrating the viability of Bitcoin as a treasury reserve asset.
