Why is Michael Saylor warning of a Bitcoin supply shock? | Credit: Getty Images.
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Key Takeaways
Michael Saylor warns of a massive Bitcoin supply shock from institutional buying.
Jack Mallers slams banks for holding merchants hostage with high fees.
Mallers also highlighted Bitcoin’s superiority over gold as money and network.
During the second day of Bitcoin 2026, Michael Saylor warned of a looming Bitcoin supply shock, and Jack Mallers took aim at the “banking cartel.”
The jam-packed Las Vegas event, which attracted thousands, has again pushed bullish sentiment across the industry, even as some critics pushed back against the narratives online.
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On stage, Saylor, chairman of Strategy, pointed to tightening supply dynamics that could impact Bitcoin’s future availability.
Speaking in his keynote, the Bitcoin bull predicted that institutional investors will start pouring money into Bitcoin at a rate that the market cannot match.
“We’re setting up a massive supply shock,” he told the audience.
“We purchased the full inventory last week. Then Strive announced a huge purchase. All the major banks are going online.”
Saylor predicted nearly $100 billion worth of credit could flow into Bitcoin in the coming year:
“…The formation of what you’re talking about is between $20 billion and $100 billion worth of credit formation in the next 12 months, and there’s only $10 billion of Bitcoin naturally available for sale.”
This mismatch might lead to pricing pressure and a “Cambrian explosion” of new financial instruments, he said.
It comes as Strategy’s aggressive accumulation has already reduced available supply and Saylor repeatedly highlights Wall Street’s increasing interest as the last needed catalyst.
Bitcoin, he believes, is no longer just an asset class. It is becoming the default treasury reserve for firms and governments alike.
Jack Mallers Blasts Big Banks
Seperately at the event, Jack Mallers focused on the day-to-day problems with the current financial system.
“These card networks have all of us right where they want us,” he said.
“Consumers seek rewards—”ree flights, airport lounges, Napa Valley wine, cash back—but at a high cost to businesses. They charge the merchant three, four, five percent and then they share that with the consumer.
“So they’re effectively holding merchants hostage and bribing the person at checkout to use their option instead of Bitcoin,” Mallers said.
He went on to link the squeeze to fiat currency itself. Mallers alleged that governments purposefully debase money to paper over bad decisions, encouraging individuals to use “better money” under Gresham’s Law.
Some users on X responded negatively to his comments, with one user writing: “Same old lines. But he falls right in line with everything they do, what’s he talking about? Gaslighting 101.”
Another wrote: “Only a 2021 bitcoiner would fall for this garbage.”
Bitcoin To Break The Mould?
Mallers’ larger vision is to use Bitcoin to break the stranglehold.
“My passion for using Bitcoin as payments is actually to dematerialize the chokehold that card networks and centralized entities have on our ability to facilitate settlement,” he stated.
Mallers said that an open Bitcoin network would allow entrepreneurs to compete freely. Potentially leading to millions of wallets, lower costs, and greater innovation.
Turning his attention to Gold, he claimed the precious had no built-in network. In turn explaining how it requires “human legs” and slow, expensive logistics.
Bitcoin, on the other hand, allows you to send value anywhere in real time and for a low cost, he said.
“If I need to get gold monetary here in Nigeria in less than a second and at no cost…well, that’s kind of cool,” he said.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
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