Spot Bitcoin ETFs Open Gateway for Institutional Capital, Says MicroStrategy’s Michael Saylor
In an interview with Bloomberg Television, Michael Saylor, co-founder and chair of MicroStrategy, stated that the recent approval of spot Bitcoin exchange-traded funds (ETFs) has created an opportunity for institutional capital to enter the Bitcoin ecosystem. He emphasized that the demand for Bitcoin is surpassing its current supply and described the ETFs as a facilitator of the digital transformation of capital. Saylor believes that these ETFs are bringing hundreds of millions of dollars into the digital economy every day.
SEC Approves Bitcoin ETFs, but It’s Not an Endorsement
Although the U.S. Securities and Exchange Commission (SEC) approved the Bitcoin ETFs, Chair Gary Gensler clarified in an interview with CNBC that this approval does not indicate an endorsement of the digital asset. Gensler explained that the approval simply enables trading of Bitcoin through these specific exchange-traded products.
MicroStrategy’s Unconventional Approach to Investing in Bitcoin
MicroStrategy, a significant holder of Bitcoin, has amassed over 190,000 BTC valued at approximately $10 billion. Saylor highlighted his unconventional investment strategy by stating that he will continue to buy Bitcoin even at its peak. He believes that Bitcoin is a trillion-dollar asset class and compares it to major companies like Apple, Google, and Microsoft.
Despite facing losses, MicroStrategy continued to purchase Bitcoin throughout last year. Saylor even sold $216 million in personal MicroStrategy stock options to acquire more Bitcoin in January. He argued that there is limited space within traditional assets like gold and real estate to hold trillions of dollars in capital. According to Saylor, as a technically superior asset class, Bitcoin will attract capital from these traditional assets.
Hot Take: Bitcoin Emerges as a Strong Store of Value
Michael Saylor’s perspective on Bitcoin as a trillion-dollar asset class alongside major companies demonstrates his confidence in its potential as a store of value. With the approval of spot Bitcoin ETFs, institutional investors now have an accessible gateway to invest in Bitcoin. Saylor believes that capital will continue to flow into Bitcoin, considering its technical superiority compared to traditional assets like gold and real estate. This indicates a growing recognition of Bitcoin’s strength and potential in the financial market.
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