Bitcoin is set for renewed upward movement toward the end of 2025, according to Strategy executive chairman Michael Saylor, who attributes the trend to robust corporate and institutional demand outpacing new supply.
ETF and company demand exceeds miner supply
Saylor told CNBC’s Closing Bell Overtime that companies and exchange-traded funds (ETFs) are purchasing more bitcoin than is currently being created by miners.
Miners generate around 900 bitcoin daily, but a recent report from River found that businesses are accumulating approximately 1,755 bitcoin per day in 2025, with ETFs acquiring another 1,430 per day on average.
This dynamic, according to Saylor, “is putting upward pressure on the price.”
Buy pressure and market movements
Over the last 24 hours, bitcoin traded between $111,369 and $113,301, with a seven-day high of $117,851.
The market also experienced nearly $2 billion in liquidations earlier in the week, an event analysts attributed to technical trading factors rather than weakening fundamentals. Saylor added:
“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.”
Public companies strengthen with bitcoin treasuries
Saylor categorized bitcoin-buying companies into two groups:
Operating companies that adopt bitcoin as a treasury reserve asset instead of traditional dividends or buybacks, and “true treasury companies” that capitalize on holding bitcoin.
Strategy itself holds 638,985 BTC, making it one of the largest corporate holders.
Digital capital and future credit instruments
Saylor emphasized the evolving role of bitcoin in capital markets, stating:
“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.”
