Bitcoin has recently faced a period of price stagnation, fluctuating within a narrow band. However, Michael Saylor, CEO of Strategy (MSTR), maintains that the underlying structural buying pressure is significant and cannot be overlooked. In an interview on CNBC’s “Closing Bell Overtime,” Saylor emphasized that corporate buyers and exchange-traded funds (ETFs) are acquiring more Bitcoin daily than what miners are able to produce.
According to Saylor, firms investing in Bitcoin are outpacing the natural supply created by miners, which typically generates about 900 Bitcoin each day. He cited research from River that predicts businesses will buy approximately 1,755 BTC daily by 2025, alongside 1,430 BTC per day from ETFs. This growing demand is setting the stage for potential upward price movement, as supply tightens.
In the last 24 hours, Bitcoin’s price has been confined between $111,369 and $113,301, with a weekly high reaching $117,851, according to data from CoinGecko. This comes after a turbulent week that saw nearly $2 billion in long positions liquidated during one of the largest market pullbacks of the year. Analysts regard this recent volatility as technical in nature, rather than a sign of weakening fundamentals.
Acknowledging the short-term challenges, Saylor expressed optimism for a stronger finish to 2025. He believes that as the market navigates through current resistance levels and macroeconomic hurdles, Bitcoin is likely to experience a robust upward movement by the end of the year.
Saylor categorized corporate buyers into two main groups. The first consists of operating companies that, instead of offering dividends or buybacks, are choosing to hold Bitcoin as a reserve asset. He noted that this decision enhances their capital structure, ultimately strengthening these companies. Currently, data shows that at least 145 companies have incorporated Bitcoin into their balance sheets, including Strategy itself, which holds approximately 638,985 BTC.
The second category includes “true treasury companies” that are focusing on using Bitcoin as a foundational element for various credit instruments. Saylor drew a parallel between Bitcoin’s future and the historical reliance on gold-backed credit, suggesting that the world is set to embrace “digital gold-backed credit” for the foreseeable future. This evolving landscape identifies Bitcoin as an ideal form of digital capital for backing equity and credit instruments.
With rising demand from ETFs, corporate treasuries, and institutional investors, Bitcoin is being absorbed faster than it is being mined. Saylor’s perspective suggests that this ongoing imbalance may lead to the next significant rally in Bitcoin’s price. He remains confident that, once macroeconomic pressures diminish, Bitcoin will experience a notable upward trajectory as the year progresses.
As of the latest data, Bitcoin is trading at approximately $112,612.74.
