Michael Saylor: Bitcoin ETF Launch Is Bullish for the Industry
Michael Saylor, co-founder and executive chair of MicroStrategy, believes that the launch of a Bitcoin spot ETF is a positive development for the crypto industry. In an interview with Bloomberg, Saylor discussed how the ETF differs from MicroStrategy’s stocks and why it won’t negatively impact the company.
Bitcoin Spot ETF Offers Unique Benefits
Saylor explained that MicroStrategy can generate additional Bitcoin through profit and loss or capital markets operations, unlike ETFs which are unleveraged and charge fees. He compared MicroStrategy to an airline, offering higher performance and leverage without the added costs. Saylor also mentioned that the company will continue to buy Bitcoin to increase value for shareholders.
MSTR’s BTC Price-to-Cost Ratio Improves
MicroStrategy has seen its Bitcoin value-to-cost ratio improve in December after months of decline. The company’s market capitalization is largely attributed to its Bitcoin holdings, which means that any fluctuations in Bitcoin’s price significantly affect its valuation.
Predictions for 2024: Bull Run and Demand/Supply Shocks
Saylor predicts a major bull run for Bitcoin in 2024. He also expects that the approval of spot ETFs in January will create a demand shock in the market. Additionally, he anticipates a supply shock in April when the daily availability of Bitcoin from miners is halved, further impacting its price.
Hot Take: Michael Saylor Optimistic about Bitcoin’s Future
Michael Saylor’s positive outlook on the Bitcoin ETF launch and his belief in MicroStrategy’s ability to generate additional Bitcoin highlight his optimism about the future of both the company and the cryptocurrency industry. With predictions of a bull run and potential market shocks, Saylor’s insights provide valuable perspective for investors and crypto enthusiasts.
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