MicroStrategy’s Saylor Says Miners No Longer Set Bitcoin Price, Another Force Has Taken Over
BeInCrypto
Michael Saylor asserts that institutional credit demand and structured products, rather than mining output, now dictate Bitcoin's price.Summary
Michael Saylor, executive chair of MicroStrategy, argues that Bitcoin's pricing is increasingly driven by institutional credit demand rather than miner output. He posits that the firm's structured credit product, STRC, absorbs significant portions of newly issued Bitcoin, effectively shifting the structural power behind price discovery. While the company continues to aggressively accumulate Bitcoin to support its long-term strategy, critics remain cautious about the sustainability of the STRC model as it faces scaling tests leading up to future halving events.
(Source：BeInCrypto)