Michael Saylor, the executive chairman of MicroStrategy and a prominent Bitcoin advocate, has predicted that the leading cryptocurrency will start to gain again toward the end of the year. In an interview with CNBC, Saylor stated he expects Bitcoin to “move up smartly again toward the end of the year” as recent resistance and macro headwinds are worked through.
Saylor's optimism stems from a fundamental supply and demand imbalance. On one hand, the Bitcoin halving, a pre-programmed event that occurs roughly every four years, cuts the reward for mining new blocks in half, thereby reducing the rate at which new bitcoins are created. The most recent halving, which took place on April 20, 2024, reduced the block reward to 3.125 BTC, enhancing the asset's scarcity. Historically, post-halving periods have often led to significant price bull runs.
On the other hand, demand is surging, driven largely by the introduction of spot Bitcoin ETFs in the United States. These financial products allow institutional and retail investors to gain exposure to Bitcoin through traditional brokerage accounts, without the technical challenges of direct ownership. Saylor emphasized that demand from companies and ETFs is outstripping the supply from miners. While miners generate roughly 900 Bitcoin per day, one report found that businesses are acquiring 1,755 BTC per day in 2025, with ETFs snapping up an additional 1,430 per day on average.
Saylor's own company, MicroStrategy, has a strategy that underscores this conviction. Since 2020, MicroStrategy has been consistently purchasing Bitcoin as a hedge against inflation and an alternative to holding cash. The company now holds a total of 639,835 BTC. This aggressive accumulation strategy makes MicroStrategy the largest publicly traded corporate holder of Bitcoin and signals Saylor's deep belief in its long-term value.
In summary, Saylor argues that the combination of a post-halving supply reduction and soaring institutional demand via ETFs is creating “upward pressure on the price.” While the market has experienced recent volatility, Saylor remains firm in his view that the fundamentals favor a strong rally for Bitcoin by the end of 2025.