Michael Saylor Claims Demand for Bitcoin Products Exceeds Supply by 10 Times

Crypto News– Michael Saylor, co-founder and executive chairman of MicroStrategy (MSTR), attributes the recent surge in Bitcoin’s price to the listing of Bitcoin exchange-traded funds (ETFs), citing a significant disparity between the crypto’s supply and the pent-up demand spanning nearly a decade for a retail-accessible BTC product.

Michael Saylor Claims Demand for Bitcoin Products Exceeds Supply by 10 Times

During an interview with CNBC, Saylor stated, “There’s ten times as much demand for bitcoin coming into these ETFs as there is supply coming from the natural sellers who are the miners.” He emphasized that mainstream investors now have access to Bitcoin through ETFs after years of anticipation, which is driving a surge of capital into the asset class.

Explaining Bitcoin’s current demand, Saylor highlighted its status as an asset uncorrelated to traditional risk assets and devoid of exposure to specific countries, companies, quarterly results, product cycles, competitors, weather, wars, employee bases, or supply chains.

Additionally, Saylor announced that MicroStrategy intends to rebrand itself as a Bitcoin development company, aligning with its strategy to accumulate more Bitcoin and foster the growth of the Bitcoin network.

“It’s a logical step for us considering the success of our bitcoin strategy and our distinctive position as the world’s largest public company holder of bitcoin,” he remarked. Saylor asserted that MicroStrategy’s model provides more flexibility compared to an investment trust. This flexibility allows the company to develop software, generate cash flow, utilize the capital market, and acquire bitcoin for its shareholders while also supporting the growth of the Bitcoin network.