BITCOIN DEMAND INCREASINGLY DRIVEN BY MICHAEL SAYLOR Bitcoin’s market is becoming heavily dependent on buying by Strategy and its executive chairman Michael Saylor, as broader investor demand weakens. Strategy has bought more than 171,000 Bitcoin in 2026 — far exceeding new supply from miners — with purchases funded through high-yield preferred stock offerings. Analysts say the company now represents a major share of Bitcoin trading and accumulation activity. Meanwhile, ETF inflows, hedge fund arbitrage demand, and retail trading have slowed, while miners are increasingly selling Bitcoin to fund AI infrastructure investments.(*Walter Bloomberg)