Strive CEO Matt Cole and former Binance CEO Changpeng Chao, also known as CZ, both spoke out on Monday against Bitcoin’s bearish momentum, even though the cryptocurrency is trading about 50% below its October 2025 all-time high of over $126,000.
czech republic Posted in X “Bitcoin hasn’t been ‘dead’ for that long,” adding a reference to Douglas Adams, “Don’t Panic, in a big friendly letter.” This post saw thousands of interactions. $BTC It remained around $62,600.
June 8th, Strive announcement I purchased an additional 32 pieces. $BTC According to Cole’s post on X, the average price per coin is about $63,911, which is about $2.1 million. The purchase announcement came two days after Cole told his followers that he believed “the debt crisis is not getting better and will continue to deteriorate,” adding, “We are moving toward the future of Bitcoin.”
Strive’s CEO also said that “digital credit” is the best medium of exchange during the long transition from a fiat currency to a Bitcoin-denominated world.
“The dollar has collapsed, but it’s still the reserve currency,” Cole said. I wrote to X “Today, any security or commodity can be easily used as a medium of exchange.”
In the June 8th post, Cole said That he and the Strive team are scheduled to appear $BTC This week Prague sat down for a fireside chat with Michael Saylor.
Is AI the cause of Bitcoin’s liquidity problem?
This bullish stance comes during one of Bitcoin’s toughest stretches in recent memory.
$BTC It fell from about $82,000 in early May to about $63,000 on Monday, a drop of more than 20%. Last week, it briefly fell below $60,000 for the first time since October 2024.
Wall Street broker Bernstein cited capital turnover into artificial intelligence as the main reason for the slowdown in Bitcoin inflows.
Bitcoin treasury companies and ETFs Bernstein analysts led by Gautam Chughani wrote that it attracted about $12 billion in inflows in 2026, which is significantly down from $60 billion in 2025.
spot $BTC ETFs alone have recorded net outflows of about $2.6 billion this year from a $75 billion asset base, with corporate buyers led by Strategy (formerly MicroStrategy) accounting for most of the remaining demand, according to the report.
Cryptopolitan previously reported on the broader dynamics. While critics want to declare the death of Bitcoin, the liquidity crunch has less to do with crypto-specific failures and more to do with capital chasing AI-related IPOs and overall stock market infrastructure improvements.
Bernstein analysts echoed that framework. “Bitcoin may still offer diversification from the unusual AI-driven momentum market we experienced this year,” the report states. The company also pointed out that the best-performing crypto sector in 2026 will not be Bitcoin itself, but tokenized stocks and commodities.
different types of markets
Despite the price pain, Bernstein maintained that Bitcoin’s ownership structure is mature. Unlike previous cycles, which were dominated by retail speculation, today’s holder base spans ETFs, corporate treasuries, asset management platforms, pension funds and sovereign investors, according to the report.
This diversification may explain why Cole and CZ buy aggressively and negotiate bullishly down to 50% drawdowns. Cole backed up his words with capital, elevating Strive’s Bitcoin position at a price that would have looked cheap a year ago and expensive two years ago. CZ did not offer any concrete theory other than an optimistic view.
Whether it’s labeled “dead” will depend largely on whether AI continues to siphon money out of risky assets, or whether institutional investors view current prices as an entry point. Readers looking at this article should keep an eye out for weekly ETF flow data and Corporate Treasury releases as we head into the summer.
