Bitcoin Saving Your Money: Michael Saylor Makes Fundamentally Bullish Statement

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Michael Saylor, the founder of the MicroStrategy business intelligence giant, has issued a fundamental statement about what is happening as Bitcoin continues to win against fiat money. Basically, Saylor tweeted that Bitcoin isIn the meantime, the world’s flagship cryptocurrency reclaimed the $67,000 price line on Friday and then again recaptured it after a minor rebound that followed earlier today.

In the middle of January, the regulatory agency granted permission for these ETFs to start trading — 11 ETFs in total. Ten of them started an aggressive accumulation of Bitcoin since then, buying together roughly 10,000 BTC per day — that was 12x what miners could produce . As many experts pointed out, the ETFs created a demand shock. Many retail and institutional investors then followed suit and began to accumulate digital gold.

In the second half of April, the Bitcoin community witnessed the fourth halving event, which reduced the production of new BTC by half. This, as many renowned Bitcoiners pointed out, created a supply shock. As reported by the @spotonchain analytics account on X, on May 17, the aforementioned Bitcoin ETFs saw a cumulative inflow of more than $222 million. More good news is that the inflow has been positive throughout all the current trading week, the tweet stressed, with the Bitcoin price rebounding by more than 10% over the past seven days.Grayscale has been seeing positive inflows for three days in a row. The largest single-day inflow on Friday was witnessed by Fidelity — that was $99.

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