Bitcoin has been stuck in a tight range, but Strategy (MSTR) CEO Michael Saylor insists the structural buying pressure is too strong to ignore.
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Speaking to CNBC’s Closing Bell Overtime, Saylor said corporate buyers and ETFs are scooping up more Bitcoin each day than miners can produce.
“Companies that are capitalizing on Bitcoin are buying even more than the natural supply being created by the miners,” he said. “That is putting upward pressure on the price.”
On average, miners generate around 900 Bitcoin per day, but according to River research, businesses are buying 1,755 BTC daily in 2025. ETFs add another 1,430 per day, overwhelming new issuance and tightening supply.
‘We’ll actually See Bitcoin Start to Move Up Smartly Again’
Bitcoin’s price has drifted between $111,369 and $113,301 in the past 24 hours, with a weekly range topping out at $117,851, CoinGecko data shows.
Markets were rattled earlier this week when nearly $2 billion in long positions were liquidated during one of the year’s largest flush-outs. Analysts called the move technical rather than a signal of fading fundamentals.
Saylor brushed off the turbulence and pointed to a stronger finish to 2025. “I think that as we work through the resistance of late and some macro headwinds, we’ll actually see Bitcoin start to move up smartly again toward the end of the year,” he said.
‘That Actually Improves their Capital Structure’
Saylor argued that corporate buyers are falling into two clear camps. The first group is operating companies that might otherwise return capital via dividends and buybacks but instead choose Bitcoin as a reserve asset.
“That actually improves their capital structure. It strengthens those companies. There’s a lot of those,” he said.
Bitbo data shows at least 145 companies have already added Bitcoin to their balance sheets, including Strategy itself, which holds 638,985 BTC.
‘The World’s Going to Run on Digital Gold-Backed Credit’
The second category, according to Saylor, are “true treasury companies” that are deliberately using Bitcoin as a foundation for credit instruments.
“The world ran on gold-backed credit for 300 years. The world’s going to run on digital gold-backed credit for the next 300 years. So treasury companies are holding digital capital and creating digital credit instruments,” he said.
With demand for equity and credit instruments rising across traditional markets, Saylor argues that Bitcoin is emerging as the “ideal form of digital capital” to back them.
ETF inflows, corporate treasuries, and institutional adoption are soaking up Bitcoin faster than miners can produce it. For Michael Saylor, this imbalance builds toward the next rally. Once macro headwinds ease, he believes Bitcoin will “move up smartly again” into year-end and beyond.
At the time of writing, Bitcoin is sitting at $112,612.74.
