Strategy’s Michael Saylor said Bitcoin treasury companies are purchasing BTC at 1.6 times the amount produced by miners, creating what he described as a supply shock. As the treasury sector expands, higher BTC demand could lift prices and improve the credit and equity conditions of participating companies. Stronger financing conditions would allow them to raise more capital and buy additional BTC. Saylor said the companies are not competing with one another but cooperating within a mutually reinforcing cycle, according to a post by Bitcoin Treasuries on X.