Strategy Executive Chairman Michael Saylor pointed out that as corporate and institutional interest continues to grow, Bitcoin is expected to rise again by the end of this year.
Saylor stated on CNBC's Closing Bell Overtime program on Tuesday that the adoption of Bitcoin by corporations, along with large ETFs representing institutional investors continuously buying Bitcoin, is absorbing all Bitcoin output.
He added that the amount purchased by companies allocating Bitcoin even exceeds the Bitcoin output from miners, creating upward pressure on prices.
According to Bitbo data, miners produce about 900 Bitcoins on average per day. A report released earlier this month by financial services company River showed that corporations are consuming an average of 1,755 Bitcoins per day by 2025, while ETFs are expected to buy an additional 1,430 Bitcoins per day on average in 2025.
CoinGecko data shows that in the past 24 hours, Bitcoin fluctuated between 111,369 and 113,301, while the seven-day range was between 111,658 and 117,851.
On Monday, traders were liquidated in one of the largest market liquidations of the year, amounting to nearly $2 billion, with analysts believing this was primarily due to technical factors rather than a weakening of market fundamentals.
He stated that as macro resistance gradually fades, Bitcoin is expected to rise strongly again by the end of the year.
Saylor mentioned that companies buying Bitcoin can be divided into two categories. The first category is operating companies that could have returned capital through dividends and buybacks but choose to hold Bitcoin as a financial reserve asset.
Bitbo has tracked at least 145 companies that have incorporated Bitcoin into their balance sheets, with Strategy holding 638,985 Bitcoins.
Saylor said, "This actually improves their capital structure and strengthens these companies, and there are many such companies."
Saylor noted that the second category of companies buying Bitcoin is "real financial companies" that are "allocating Bitcoin."
He stated, "The world operated on a credit system backed by gold for 300 years, and for the next 300 years, it will operate on a credit system backed by digital gold. Therefore, financial companies hold digital capital and create digital credit instruments."
Related: Democratic supporter of Bitcoin (BTC) Ian Calderon runs for California governor
Original: “Saylor says Bitcoin (BTC) will 'rise strongly again' by the end of 2025”
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