Michael Saylor, a prominent advocate of Bitcoin, has made a bold claim: 'Bitcoin has won.' However, the market is yet to decide on this assertion. From a macro perspective, Saylor's view doesn't seem far-fetched, given the disruption caused by the 2024 halving.
The traditional four-year cycle, which was expected to trigger a post-halving rally, didn't materialize as predicted. This has led some analysts to question the conventional wisdom surrounding Bitcoin's supply narrative.
Instead of functioning solely as a speculative asset, Saylor argues that Bitcoin is gradually positioning itself as a credit instrument within institutional financial systems. This transformation would be a significant milestone for the cryptocurrency, marking its maturation into digital credit.