2024-02-16 05:38:39
According to MicroStrategy Executive Chairman Michael Saylor, bitcoin “has become the world’s most popular investment vehicle“. He noted that after the introduction of Bitcoin spot ETFs, the cryptocurrency has found itself, and the demand for it is already ten times greater than its supply.
Michael Saylor explained his thinking in an interview with CNBC. He said that MicroStrategy, which is said to be the world’s first Bitcoin development company, currently holds 190,000 BTC. By the way, the company dealing with business software did not let up this year with the expansion of its bitcoin stock, and only in January it became the owner of 850 BTC. Saylor emphasized that bulk shopping will continue.
Connecting: The value of MicroStrategy’s BTC stock has reached $8 billion
As for the outstanding performance of the bitcoin exchange rate, according to him, it all indicates the popularity of the cryptocurrency, as “bitcoin is now the most popular investment tool in the world”.
“It is innovative, digital, global, unique, uncorrelated with traditional tools, as it does not rely on a country, currency, company, quarterly result, product cycle or competitor – detailed. – It is a natural addition to investors’ portfolios. People have been waiting for ETFs for ten years; finally, mainstream investors have access to bitcoin, and I think that’s what’s driving the surge in investment in the asset class.”
He added that in the beginning, people were still commuting between the traditional and cryptocurrency markets, but now more and more people are starting to realize that there is much more demand for ETFs than the supply of the “natural sellers”, the miners. And we already know that mining doesn’t last forever either, so it’s worth taking a look at BTC’s supply formula to understand its economics.
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