Bitcoin ETF issuers and MicroStrategy bought about 1.73 million BTC, which is 8.7% of the number of coins created. At the same time, miners mined an average of 450 bitcoins per day and thus issued about 164,250 BTC. That is, the creators of exchange-traded funds and MicroStrategy alone bought many more coins than were mined.
๐ As a result, demand exceeded supply, and the price of Bitcoin increased.