MicroStrategy, the renowned business intelligence firm founded by Bitcoin (BTC) advocate Michael Saylor, has witnessed a significant increase in its holdings as Bitcoin continues to soar to new heights, bolstered by the introduction of Bitcoin spot exchange-traded funds (ETFs).. In a recent interview with CNBC, Saylor delved into the implications of ETFs and shed light on his company’s transformation into a Bitcoin development powerhouse.. Bitcoin ETFs Drive Unprecedented Demand. The surge in Bitcoin’s value, reaching a 26-month high, can be largely attributed to the growing demand fueled by the introduction of Bitcoin ETFs. Saylor emphasized that this surge exemplifies Bitcoin’s popularity as a unique, global, and non-correlated digital asset that transcends traditional risk factors.. Saylor further highlighted that after years of anticipation, mainstream investors can now access Bitcoin through ETFs, resulting in an influx of capital into the asset class.. Related Reading: Ethereum ETF Showdown: Asset Manager Franklin Templeton Enters The Ring. Interestingly, Saylor revealed that demand for Bitcoin through ETFs is currently outstripping supply, with ten times more demand from investors entering the market than natural sellers, predominantly miners.. This dynamic has contributed to the asset’s 13% growth over the past 30 days and reinforces Bitcoin’s role as a sought-after investment.. MicroStrategy’s Bitcoin Stash Hits $9 Billion. According to Saylor, MicroStrategy’s decision to rebrand as a Bitcoin development company aligns with its successful Bitcoin strategy and status as the largest public company holder of digital assets.. Saylor explained that the company will focus on software development, generate cash flow, leverage capital markets, and accumulate more Bitcoin for its shareholders. Simultaneously, MicroStrategy aims to promote the growth and development of the Bitcoin network.. The founder of the business intelligence company emphasized that MicroStrategy should be classified as a Bitcoin development company, given the firm’s significant enterprise value derived from Bitcoin-related activities.. Related Reading: Bitcoin Reaches 3 New All-Time Highs, But Not (Yet) In Price. MicroStrategy’s Bitcoin holdings have now surpassed $9 billion, with the firm owning approximately 190,000 Bitcoins. This amount represents nearly 1% of the circulating supply of Bitcoin, which stands at 19.6 million BTC.. MicroStrategy embarked on its Bitcoin investment journey in 2020, initially purchasing $250 million worth of Bitcoin in August of that year. Since then, the company has consistently increased its holdings.. As per recent disclosures, MicroStrategy has acquired 190,000 BTC at an average cost of $31,224 per Bitcoin, totaling $5.93 billion.. BTC’s retrace on the daily chart. Source: BTCUSDT on TradingView.com. As of the time of writing, the leading cryptocurrency in the market is currently trading at $48,740, reflecting a 1.6% decrease in the past hour of trading. This decline comes after the cryptocurrency reached a high of $50,200 on Monday, accompanied by a notable 13% upward trend over the past seven days.. Index funds’ future impact on institutional and retail investors remains uncertain. Given the ongoing rise in demand for the asset, how these funds will continue to attract and captivate investors remains to be seen.. Featured image from Shutterstock, chart from TradingView.com