Val Vavilov, one of the pioneers in the crypto industry, recently shared that he sees Bitcoin’s sharp decline as a great chance to buy more 📉➡️📈.
The Latvian billionaire, who founded Bitfury 15 years ago and helped turn it into one of the biggest players in the sector, explained that he took advantage of low prices to adjust his investment portfolio 💼💡.
In a message sent via WhatsApp, Vavilov said, “This Bitcoin drop gives us the perfect moment to rebalance our portfolio and pick up some BTC at cheaper levels.” However, he chose not to reveal the exact amount invested 🤐🪙.
Last week’s strong wave of selling across the crypto market pushed Bitcoin down more than 50% from its October highs. After falling below $67,000, the asset reached its lowest point in weeks due to heavy selling pressure 📊⚠️.
Meanwhile, investor Michael Burry, famous for predicting the 2008 financial crisis, warned that Bitcoin’s fall could turn into a dangerous downward spiral 🔄📉.
Despite market downturns, some investors remain confident. One of them is Michael Saylor, whose company, Strategy, has acquired over $7 billion worth of Bitcoin since the October 10 crash 💰🚀.
Vavilov, on the other hand, prefers a more cautious and diversified strategy.
“We believe in Bitcoin’s long-term potential and keep part of our assets in it, but it’s just one piece of our overall investment plan,” he said. He also highlighted that his company has expanded into artificial intelligence and other sectors 🤖🌐.
Founded in 2011, Bitfury is a private company that provides mining hardware and blockchain technology solutions. In addition, Vavilov owns a 12% stake in Cipher Mining, which separated from Bitfury in 2021 and later went public on Nasdaq 📈🏦. #BTC #bitcoin
