Michael Saylor named the driving force behind Bitcoin's growth

Michael Saylor, executive chairman of the American company Strategy, said that the driving force behind the growth of the first cryptocurrency is that demand for the asset far exceeds supply on the market.

According to Saylor, Bitcoin is preparing for a new rally, which should begin by the end of the year:

“Corporate adoption of Bitcoin, coupled with the constant buying by large exchange-traded funds on behalf of institutional investors, is literally eating up the entire natural supply of the cryptocurrency. Companies betting on Bitcoin are buying even more than the natural supply created by miners. And this is creating a driving force for growth.”

The businessman divided the acquiring companies into two categories:

• Operating companies that choose Bitcoin as a reserve asset instead of returning capital through dividends and share buybacks;

• Companies with Bitcoin reserves betting on Bitcoin.

These are the companies that hold digital capital and create digital credit instruments. There is huge demand for equity and credit instruments in traditional capital markets. Bitcoin has become the ideal form of digital capital to back these instruments, the crypto enthusiast concluded.

Earlier, Michael Saylor stated on the Coin Stories podcast that Bitcoin could soon become a “boring cryptocurrency” due to declining volatility.

Source: cryptonews.net