• In an interview with CNBC, MicroStrategy’s Michael Saylor highlighted the surge in demand from ETFs, citing Bitcoin’s novelty, digital nature, and global appeal.
• Saylor also said that MicroStrategy plans to rebrand as a Bitcoin development company due to its successful focus on crypto assets.

Michael Saylor, co-founder and executive chairman of MicroStrategy, said that the rising price of Bitcoin (BTC) exchange-traded funds (ETFs) is due to the crypto asset (virtual currency). ) and a nearly decade-long thirst for available BTC products.

“There’s 10 times more demand for these Bitcoin ETFs than there is supply from normal sellers like miners,” he said in an interview with CNBC.

“People have been waiting for these ETFs for about 10 years, and now mainstream investors are finally getting access to Bitcoin. I think that’s what’s driving the surge in capital.” he continued.

Bitcoin is currently being sought after because it is “uncorrelated with traditional risk assets, and is not correlated with the effects of specific countries or companies, quarterly financial results, competitors, weather, wars, employee bases, or supply chains.” Because they don’t receive it,” Saylor said.

Saylor also said that MicroStrategy will be rebranding as a Bitcoin development company, reflecting the company’s strategy to accumulate more Bitcoin and foster the growth of the Bitcoin network.

“This is a natural decision for us given the success of our Bitcoin strategy and our unique position as the world’s largest publicly traded company holding Bitcoin,” he said.

MicroStrategy’s model is more flexible than mutual funds, allowing it to develop software, leverage capital markets to generate cash flow, accumulate Bitcoin for shareholders and grow the Bitcoin network. Thaler argues.

“It makes sense for us to call ourselves a Bitcoin development company,” he said, comparing it to a real estate developer or an oil exploration company.

｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: Michael Saylor of MicroStrategy (CoinDesk)
｜Original text: Michael Saylor Believes Demand for Bitcoin Products Is 10x the Supply