MicroStrategy CEO Michael Saylor: ETFs Spark 10 Times As Much Demand For Bitcoin

MicroStrategy Inc. MSTR co-founder and executive chair Michael Saylor appeared on CNBC to discuss Bitcoin BTC/USD after the digital asset crossed the coveted $50,000 mark.

As an uncorrelated asset, it's free from exposure to any specific country, currency, company or external factors such as weather or war, Saylor says. He highlighted the significant role of exchange-traded funds (ETFs) in driving Bitcoin's popularity.

"There's ten years of pent-up demand. People have been waiting for these ETFs," he stated, pointing out that mainstream investors now have easier access to Bitcoin, which has contributed to the surge of capital into the asset class.

The initial rebalancing among futures markets, miners, MicroStrategy, and ETFs has settled, leading to a stabilization of Bitcoin's market position.

The executive chairman further noted the imbalance between demand and supply, stating, "There's ten times as much demand for Bitcoin coming in through these ETFs as there is supply coming from the natural sellers, who are the miners."

This demand-supply gap underscores the growing investor interest in Bitcoin and its potential for continued appreciation.

Also Read: Wall Street 'Loves Bitcoin,' Says Anthony Pompliano: All-Time High 'Pretty Much Guaranteed'

MicroStrategy's Strategic Pivot: The Tysons, Virginia-based firm is branding itself as a Bitcoin development company.

"Given the success of our Bitcoin strategy and our unique status as the world's largest public company holder of Bitcoin, it makes sense for us to call ourselves a Bitcoin development company," Saylor said.

This rebranding reflects MicroStrategy's commitment to leveraging its operations and capital markets to accumulate more Bitcoin and promote the growth of the Bitcoin network.
Regarding MicroStrategy's business operations, Saylor expressed optimism about the potential of AI to drive revenue growth and facilitate the migration of the firm's services to the cloud.

When asked about future capital market strategies, Saylor mentioned exploring various avenues, including equity markets, convertible securities, and potential preferred equity issuances, to creatively and prudently manage MicroStrategy's capital structure in a way that benefits shareholders.

Read Next: Raoul Pal Targets $250,000 Bitcoin, Points To Currency Debasement As Reason: 'You're A Wage Slave'

Image: Shutterstock