Michael Saylor, executive chairman of MicroStrategy, said on Bloomberg TV on the 19th that the market is underestimating the importance of the upcoming Bitcoin (BTC) spot ETF. He said it should not be evaluated.
“It’s not unreasonable to suggest that this may be the biggest development on Wall Street in the last 30 years,” Thaler said, citing the S&P 500 ETF as the most recent example of a comparable new product being launched. I mentioned it. This gives investors one-click access to this widely followed index.
Mainstream investors, whether at the individual or institutional level, have traditionally adhered to “high bandwidth (ability and time to deal with situations)” to put money into Bitcoin, Saylor said. He said he didn’t have a channel, but that’s all about to change with spot ETFs. Thaler argued that this new investment product would cause a demand shock for Bitcoin, which would soon be followed by a supply shock in the form of the halving, which will take place in April. When the halving occurs, the current 900 BTC newly issued per day will decrease to just 450 BTC.
All of this could lead to a big bull run for Bitcoin next year, Saylor said, but declined to speculate on how high prices might rise.
In response to a standard question about whether a physical ETF would take investor demand away from MicroStrategy’s stock (which is often considered an alternative to Bitcoin ETFs), Saylor said that MicroStrategy’s cash It claims to be a business company that can utilize flow and “intelligent leverage.” Additionally, he noted that unlike ETFs, there are no fees for owning MicroStrategy shares.
｜Translation and editing: Rinan Hayashi
｜Original text: Bitcoin Spot ETF Biggest Development on Wall Street in Last 30 Years, Says Michael Saylor