According to Michael Saylor, CEO of Strategy, BlackRock's Bitcoin ETF, known as iShares Bitcoin Trust (IBIT), is likely to become the largest ETF in the world in the next ten years.
Michael Saylor’s Prediction about BlackRock IBIT
Michael Saylor is known for his bold statements in the crypto industry. He claims that BlackRock IBIT will become the largest ETF in the world within ten years, surpassing giants like Vanguard S&P 500 ETF, which currently has over $573 billion in assets.
IBIT’s Achievements and Market Competition
Currently, the Bitcoin ETF IBIT holds over 582,000 BTC, valued at $54.2 billion. This ETF ranks 35th in the world for assets under management with daily trading volumes exceeding 45 million shares. However, competition is on the horizon, as 70 new crypto ETFs await SEC approval.
The Role of Bitcoin in Traditional Finance
Saylor predicts that it will be challenging for BlackRock to maintain its position amidst growing competition. Predictions about Bitcoin's future remain intriguing, especially given Saylor's significant investment history and recent acquisitions, including 6,556 BTC over a seven-day period. This underscores his belief that Bitcoin is becoming not just a speculative asset but an essential element of traditional finance.
Michael Saylor’s predictions about BlackRock IBIT illustrate Bitcoin's steady rise in traditional finance. If IBIT becomes the largest ETF, it could change the rules of the game in the global financial market.
