Michael Saylor, the founder of MicroStrategy and long-time advocate for Bitcoin, has had a profound impact on the cryptocurrency’s deflationary characteristics. By purchasing billions of dollars worth of Bitcoin steadily even during market downturns, he’s created an unprecedented illiquidity in the asset. This strategy is now proving to be deflationary, meaning that the supply of Bitcoin is decreasing over time. While traditional definitions of deflation are often associated with shrinking physical asset holdings, Saylor’s approach has significantly slowed down the rate of Bitcoin issuance. 21 million bitcoins are pre-programmed to exist, and each day a new one is mined. However, Strategy’s large accumulation strategy has led to an effectively negative supply growth for Bitcoin.