According to Michael Saylor, the executive chairman and co-founder of MicroStrategy, the recent introduction of Bitcoin exchange-traded funds (ETFs) has caused a surge in the token’s price.

This is due to a significant imbalance between the supply of Bitcoin and the demand for a retail-accessible BTC product, which has been building up for nearly a decade.

During an interview with CNBC, Saylor explained that the demand for Bitcoin from ETFs is around ten times higher than the supply from natural sellers, such as miners.

He attributes this to the fact that there has been pent-up demand for a mainstream way to access Bitcoin for many years, and now with the availability of ETFs, traditional investors are able to enter the market.

The appeal of Bitcoin lies in its lack of correlation to traditional risk assets, as well as the fact that it is not tied to any particular country or company.

Saylor stated that this makes it an attractive investment for many, as it is not impacted by factors such as economic conditions, business performance, and geopolitical events.

Follow and like us on