What Does the Founder of MicroStrategy Think About Spot Bitcoin ETFs?

  • Michael Saylor said there is an increasing consensus that Bitcoin is a unique and valuable international asset, and this is confirmed by politicians, investors, and regulators.
  • Saylor stated that Larry Fink, the CEO of top financial firm Blackrock, expressed confidence in the top cryptocurrency and this has caused a shift in sentiment.
  • While the crypto asset industry faces fear and uncertainty regarding regulatory clarity in the US, Bitcoin trading is almost never disputed by regulators.

MicroStrategy, the largest institutional holder of BTC, is planning to buy more BTC; What does the company’s founder think about ETFs?

MicroStrategy Continues Bitcoin Strategies

Michael Saylor

Michael Saylor, the founder of MicroStrategy, said on Wednesday that there is an increasing consensus that Bitcoin is a unique and valuable international asset, and this is confirmed by politicians, investors, and regulators.

He mentioned that Larry Fink, the CEO of top financial firm Blackrock, expressed confidence in the top cryptocurrency and this has caused a shift in sentiment. On Tuesday, MicroStrategy announced that it had made a profit in the second quarter and continued to accumulate Bitcoin as a result.

With the increasing confidence in spot Bitcoin ETF applications gaining approval from the US Securities and Exchange Commission (SEC), the company founded by Michael Saylor is entering an extremely interesting period in terms of regulatory scope in the crypto market.

In this context, the company may face challenges in defending its position as the largest institutional holder of BTC. In its quarterly earnings report, the company reported holding up to 152,800 BTC with an average Bitcoin price of $29,672 per cryptocurrency.

In addition, MicroStrategy plans to raise $750 million in stock sales for the purpose of buying more Bitcoin.

What does Saylor think about Bitcoin ETFs?

While the crypto asset industry faces fear and uncertainty regarding regulatory clarity in the US, Bitcoin trading is almost never disputed by regulators. Saylor stated in his remarks that Bitcoin is the “most certain thing in an economy filled with uncertainties.”

He also welcomed the developments in spot ETFs from financial giants. However, he rejected the argument that ETFs would threaten his company’s investment strategy. Michael Saylor said the following about spot Bitcoin ETFs;

“You can think of Bitcoin as a beautiful house in a terrible neighborhood where you have to make a cash payment and it takes a year to buy, and you never rent it. On the other hand, a spot Bitcoin ETF is like the same beautiful house in a beautiful neighborhood that you can buy tomorrow without making a down payment.”

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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