Chinese mining CEO says Strategy can survive $30,000 bitcoin without selling

Jiang Zhuoer, CEO of BTC.TOP, one of China's largest bitcoin mining pools, stated on X that Strategy can survive a bitcoin drop to $30,000 without being forced to sell its holdings. This pushes back against a week of speculation that the company had offloaded coins to meet obligations, following an on-chain analyst's estimate that about 45,000 bitcoin worth roughly $3 billion left a Fidelity custody wallet between May 28 and June 1. The analyst suggested Strategy sold the coins gradually at an average near $66,000, though the wallet also holds Fidelity's bitcoin and ether ETFs, complicating the attribution.

For cryptocurrency traders, this debate highlights the resilience of major institutional holders like Strategy, which has accumulated a massive bitcoin treasury. The speculation around potential selling pressure from such a large player can influence market sentiment, especially during periods of price weakness. If Strategy were to sell, it could exacerbate downside moves, but Jiang's confidence suggests the firm's bitcoin strategy remains intact regardless of short-term price fluctuations. Traders can monitor real-time price action and on-chain flows on NowPrice's live crypto dashboard to gauge market reactions to such narratives.

Looking ahead, the market will watch for any official confirmation from Strategy regarding its bitcoin holdings or selling activity. The upcoming Q2 earnings report may provide clarity on the company's treasury strategy. Additionally, broader macroeconomic factors, such as Federal Reserve policy and inflation data, will continue to drive risk asset sentiment, including bitcoin. The $30,000 level remains a key psychological support, and any breach could test the conviction of other large holders.