Michael Saylor believes that the demand for Bitcoin products is 10 times higher than the supply
MicroStrategy's co-founder and current executive chairman said in an interview with CNBC that the business is changing its name to a bitcoin development company.
According to Michael Saylor, the recent listing of bitcoin (BTC) exchange-traded funds (ETFs) is pushing up token prices. This is due to the massive imbalance between supply and demand for bitcoin, which has been building for nearly ten years, and the fact that retail investors are finally having access to bitcoin.
His statement in an interview with CNBC was: “The demand for bitcoin into these exchange-traded funds is 10 times greater than the supply coming from miners, the natural sellers.”
According to him, “the increase in the amount of money in the asset class can be attributed to the fact that mainstream investors can now buy bitcoin, which has been a long-awaited demand for these ETFs.”
According to Saylor, the reason for the current desirability for Bitcoin is its decentralization and lack of vulnerability to any country, company, quarterly results, product cycle competition, weather, war, etc. competition, employment base or supply chain.
According to Saylor, MicroStrategy's new identity as a bitcoin development company reflects the company's goal to increase bitcoin holdings and support network expansion.
The success of their bitcoin strategy and their unique position as the largest public enterprise holding bitcoin made it an obvious choice for them.
