- The demand for bitcoin products is ten times greater than the existing supply in the market, according to Saylor.
- The entrepreneur spoke about MicroStrategy’s rebranding into a bitcoin-based solutions company.
Michael Saylor, founder of technology giant MicroStrategy, said that the demand for bitcoin investment products is 10 times greater than the existing supply in the market.
According to the entrepreneur, the approval of cryptocurrency ETFs by the U.S. Securities and Exchange Commission has led to a marked increase in quotations. The first cryptocurrency got a boost to move upward due to high investor interest in the new product, says Saylor.
“People have been waiting for these ETFs for ten years with unmet demand, and finally mainstream investors have gotten access to bitcoin. I think that’s what’s driving capital growth in this asset class,” the entrepreneur said.
In addition, Saylor said that MicroStrategy will rebrand itself and transform itself into a bitcoin-based solutions company. The move will reflect its strategy to accumulate digital reserves and facilitate the development of the first cryptocurrency’s network.
“This is a natural decision for us, given the success of our strategy and our unique status as the world’s largest publicly traded bitcoin company,” he emphasized.
According to Saylor, MicroStrategy’s business model offers more flexibility than an investment trust. In particular, the company can develop software, generate cash flow and in parallel accumulate reserves in bitcoins, notes the entrepreneur.
Recall, we wrote that in January 2024, MicroStrategy bought 850 BTC worth $37.2 million.
