MicroStrategy CEO Michael Saylor was very bullish on the potential approval of a spot bitcoin ETF, saying it would represent “the biggest development on Wall Street in 30 years.” He also expressed his opinion on the medium-term future of Bitcoin and was very confident.
Michael Saylor is very optimistic about the future of Bitcoin
Question on the Bloomberg microphone, Michael Saylor, head of MicroStrategy and pro-Bitcoin, expressed his opinion on the possible approval of one or more spot bitcoin ETFs. And this opinion is quite clear: according to Saylor the arrival of spot BTC ETF could purely and simply mean “ the biggest development on Wall Street in 30 years » :
Tea $BTC The spot ETF may be the biggest development on Wall Street in 30 years. My discussion about #Bitcoin in 2024, Spot ETF vs. $ MSTRand the emergence of bitcoin as a treasury reserve asset with @KaileyLeinz on Bloomberg @Crypto. pic.twitter.com/QtPdBOhMDr
— Michael Saylor⚡️ (@saylor) December 19, 2023
This was explained by the CEO of MicroStrategy, incidentally the company that holds the most bitcoins in the world spot bitcoin ETFs could represent a significant entry route for many investors from the general public, whether individuals or professionals.
“The last big thing was the creation of the S&P index and the ability to invest in all 500 companies in the S&P index through a single transaction at the same time. »
Michael Saylor was also particularly bullish on the near future of Bitcoin’s price, citing another halving, a quadrennial event dividing the 2 BTC rewards received by digital gold miners.
👉 What is Bitcoin (BTC) halving and what are its effects?
“I don’t think we’ve ever seen a 2-10x increase in demand combined with a halving of supply for a rare and desirable asset that people want to hold for a long time. So I think we can expect 2024 to be a big bull year for the asset class. »
MicroStrategy is by far the company that holds the most BTC. According to the latest report, it holds 174,530 units, which is equivalent to approximately $7.55 billion.
Ranking of the 5 companies that hold the most bitcoins
Michael Saylor did not wish to make an accurate prediction for the future of the price of Bitcoin, but claimed that 2024 would be regardless of ” a year of strong growth » for the king of cryptocurrencies.
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Spot BTC ETF, Bull Run Catalysts?
With approximately 3 weeks remaining until the Securities and Exchange Commission (SEC) is expected to rule on the Bitcoin spot ETF application, The marketing race was recently kicked off by Bitwise, which unveiled its ad campaign that put BTC in the spotlight :
A word to the wise, from a man of few words. #bitcoin is interesting https://t.co/wantGiAIqJ pic.twitter.com/x5MPbElEev
— Bitwise (@BitwiseInvest) December 18, 2023
According to Samson Mow, CEO of JAN3 and Pixelmatic, the event is more significant than it seemsfor whom ” Most people do not understand the importance of ETFs in terms of marketing and branding. »
👉 On ETF News – Ethereum ETF: The SEC is delaying its decision until next May due to several requests
“First of all, they’re in it for the money, not necessarily because they believe in it bitcoin (so don’t be simps). To raise dollars, they need AUM (assets under management, editor’s note). So everyone wants to be number 1. It’s a competition. (…) Second, they will not sit there passively and hope to win. No, they will fight for assets under management and clients. How do businesses fight back? They advertise and sell. Concrete example: Bit notification. This battle for the orange glow is going to intensify like you can’t imagine. »
Will the January 10 Bitcoin Spot ETF story deliver or disappoint? We should find out soon.
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Passionate about the world of decentralized finance and the new developments that Web 3.0 brings, I write articles for Cryptoast that help make blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilien Prue
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