MicroStrategy founder and prominent Bitcoin evangelist Michael Saylor has opined that the traditional Bitcoin four-year cycle is now dead.

In a recent post, Saylor argued that Bitcoin has fundamentally changed its status on the world stage. 

The end of halving cycle 

Bitcoin’s price trajectory has been famously tied to its "halving" events. 

These pre-programmed updates hold a lot of significance within the community, given that they are supposed to influence the cryptocurrency’s price action. They are. Elites to be the reason behind predictable four-year boom-and-bust cycles. 

However, according to Saylor, that era is over.

According to the controversial executive, the supply-shock cycles are now in the  past. 

Capital flows 

The question is what actually drives the price of the flagship coin now that the four-year cycles appear to be over. 

Saylor claims that the price of the top coin is now primarily driven by capital flows and credit.

"Price is now driven by capital flows. Bank and digital credit will determine Bitcoin’s growth trajectory," Saylor explained. The asset's future growth will not rely on the halving of miner rewards, but rather on how traditional banking infrastructure, institutional credit, and Wall Street capital integrate and adopt Bitcoin as a reserve asset. 

MicroStrategy has accumulated such a massive hoard of Bitcoin that it has created an insurmountable "moat." 

The cost for any other corporation to replicate MicroStrategy's strategy is simply too high. In the meantime, the rest of the market is now forced to build the infrastructure beneath them.