Michael Saylor Says Bitcoin ETFs Aren’t a Threat to MicroStrategy
According to Bloomberg, MicroStrategy executive chair and co-founder Michael Saylor believes that even if the US Securities and Exchange Commission (SEC) approves a Bitcoin exchange-traded fund (ETF), the company will still be an attractive option for investors seeking exposure to Bitcoin. Saylor argues that while ETFs charge fees, MicroStrategy offers leverage without any fees. He also highlights that the company can take advantage of intelligent leverage by borrowing money at zero percent interest to buy Bitcoin. Analysts predict that the SEC may authorize Bitcoin spot ETFs by mid-January. As of November 30, MicroStrategy held about $6.5 billion in BTC.
WisdomTree Announces Launch of Bianco Total Return Fund
Asset manager WisdomTree has announced the launch of the WisdomTree Bianco Total Return Fund (WTBN) on NASDAQ. The fund seeks to track the price and yield performance of the Bianco Research Fixed Income Total Return Index, created by Bianco Research LLC. The index uses a multi-step rules-based process to outperform a market-cap-weighted universe of USD-denominated debt by tilting exposures to select factors recognized to drive fixed income performance. WTBN is a passively managed fund of funds that utilizes a market-efficient strategy based on macro and fundamental factors.
Cardano Foundation Announces Education Partnership with Petrobras
The Cardano Foundation has partnered with Petrobras, Brazil’s state-owned energy company, to provide blockchain education workshops for over 40,000 Petrobras employees. The workshops will be led by the Cardano Foundation and participants will receive a certificate upon completion. The content will be delivered via Petrobras University, which will tailor it for use in its employee training programs. The workshops aim to expand understanding and adoption of blockchain technologies, discussing potential use cases and applications. The first 500 Petrobras participants will receive an NFT to track their achievements.
Bybit Reveals Suite of Free AI Trading Tools
Crypto exchange Bybit has introduced a suite of free AI trading tools designed to revolutionize crypto trading. Bybit aims to democratize strategy trading for all levels of investors by providing easy onboarding and accessibility to its AI products. The suite includes intelligent news classification, real-time information from social media, and expert opinions. Bybit has also expanded its proof-of-reserves audit to cover 32 cryptocurrencies, ensuring that all assets are fully backed by meticulously managed wallets.
Hot Take: Michael Saylor Believes Bitcoin ETFs Won’t Affect MicroStrategy
According to Michael Saylor, the approval of Bitcoin ETFs by the SEC will not pose a threat to MicroStrategy’s attractiveness as an investment option for Bitcoin exposure. Saylor highlights that while ETFs charge fees, MicroStrategy offers leverage without any fees, making it a high-performance vehicle for long-term Bitcoin investors. Additionally, MicroStrategy can take advantage of intelligent leverage by borrowing money at zero percent interest to buy Bitcoin. With analysts predicting the authorization of Bitcoin spot ETFs in the near future, it will be interesting to see how this development impacts MicroStrategy’s position in the market.
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