Bitcoin's Price Relies on Strategy's Record Buying Under Michael Saylor

bloomberg.com

"This suggests that the current wave of demand is being driven less by organic market participation and more by financial engineering ..."

In other words, the current bitcoin market is really a sort of thinly veiled Ponzi scheme where demand is being manufactured.

The only question now is who will be left holding the bag when it collapses --- as all such schemes inevitably do.