Bitcoin worth skilled a pointy decline, falling beneath $89,000 for the primary time in three months on February 25. The crypto misplaced over 8% in worth inside a single day, triggering widespread concern amongst buyers. However, Eric Trump, the son of U.S. President Donald Trump, took to X to encourage buyers to capitalize on the crypto market selloff.
Eric Trump Encourages Investors to Buy the Dip
In a latest post on X, the son of U.S. President Donald Trump weighed in on the crypto market selloff, urging buyers to “Buy the dips!” His message resonated with those that view corrections as an opportunity to build up Bitcoin at decrease costs. Eric Trump’s assertion sparked reactions throughout the crypto group, with some seeing it as a present of confidence in Bitcoin’s long-term potential.
Michael Saylor, Executive Chairman of Strategy, additionally responded to the crypto market decline. He referred to the worth drop as a “Bitcoin sale,” hinting that his firm might reap the benefits of the decrease costs. Saylor has constantly supported Bitcoin and led Strategy to build up vital holdings over time.
Reacting to Eric Trump’s tweet, the CEO of Strategy added,
“The best advice, volatility is a gift to the faithful.”
Despite optimism from some, skepticism remained amongst different monetary consultants. Gold advocate Peter Schiff dismissed the thought of shopping for the dip, warning that additional declines might observe. Schiff has lengthy criticized Bitcoin, arguing that it stays a speculative asset vulnerable to extreme worth swings.
MicroStrategy Continues Expanding Its Bitcoin Holdings
Amid the crypto market selloff, Strategy, previously MicroStrategy, confirmed one other main Bitcoin acquisition. The agency introduced a $2 billion buy, securing 20,365 BTC at a mean worth of $97,514 per coin. This addition aligns with the corporate’s long-term accumulation technique, which goals to carry $42 billion price of Bitcoin over the subsequent three years.
Following its newest buy, Strategy’s Bitcoin holdings have grown to roughly 499,096 BTC, valued at round $47 billion primarily based on present costs. This represents practically 2.4% of Bitcoin’s whole provide, positioning the corporate as the biggest company Bitcoin holder.
The firm has continued its shopping for technique regardless of fluctuations in Bitcoin worth. While some view this as a dedication to long-term funding, others warning that the technique carries dangers given the unstable crypto market.
A Buying Opportunity or Further Declines?
The broader crypto market also experienced losses, with Ethereum (ETH) dropping 9% to $2,405 and Solana (SOL) falling 7% to $143. Bitcoin’s market capitalization fell to $1.76 trillion, reflecting elevated promoting stress throughout digital belongings.
Meanwhile, Standard Chartered’s head of crypto analysis, Geoff Kendrick, urged that Bitcoin might see additional declines. He predicted an extra 10% drop, probably bringing costs all the way down to the early $80,000 vary. Kendrick pointed to ongoing outflows from U.S. Bitcoin spot ETFs as a key issue that might contribute to prolonged losses.
BITCOIN COULD FALL FURTHER AFTER BREAKING BELOW $90K: STANDARD CHARTERED
Bitcoin has hit a three-month low beneath $90,000, and Standard Chartered’s Geoff Kendrick expects it to fall additional. While nonetheless performing “relatively well,” bitcoin is caught in a broader cryptocurrency…
— *Walter Bloomberg (@DeItaone) February 25, 2025
While some, like Eric Trump and Michael Saylor, view the present crypto market selloff as a chance, others stay cautious concerning the potential for additional draw back.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with 4 years {of professional} expertise, having contributed considerably to numerous media shops on cryptocurrency traits and applied sciences. With over 4000 revealed articles throughout numerous media shops, he goals to tell, educate and introduce extra folks to the Blockchain and DeFi world. Outside of his journalism profession, Ronny enjoys the joys of motorcycle using, exploring new trails and landscapes.
Disclaimer: The introduced content material might embrace the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability in your private monetary loss.
