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Bitcoin ETF will replicate the success of the S&P 500 from Wall Street
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Bitcoin ETF will replicate the success of the S&P 500 from Wall Street

Dec 28, 2023

In a recent interview with Fox Business News, Natalie Brunell from the Coin Stories Podcast expressed her confidence that Bitcoin will become a prominent asset in 2024. Her view is supported by well-known Bitcoin advocate and billionaire investor Michael Saylor of MicroStrategy.

Brunell described the recent pullback in the cryptocurrency market as a positive development, noting that Bitcoin has shown an impressive 60% growth over the last three months and more than 150% throughout 2023. She predicts that one of the key factors for Bitcoin's success in 2024 will be the approval of a Bitcoin spot exchange-traded fund (ETF). Brunell highlights the active involvement of regulatory bodies and issuers in discussions about this new product.

She also notes that the U.S. Securities and Exchange Commission (SEC) is collaborating with over a dozen companies to optimize instructions and disclosure documents for Bitcoin spot ETFs. Brunell compares the potential impact of the Bitcoin spot ETF to the launch of the S&P 500, citing Michael Saylor, who calls it the most significant event on Wall Street in the last three decades.

Furthermore, Brunell emphasizes the importance of the upcoming Bitcoin halving in April 2024, which will reduce the issuance of new Bitcoins from 900 to 450 coins per day, increasing the scarcity of the leading cryptocurrency. These factors, in her opinion, will contribute to Bitcoin's continued success.

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