Michael Saylor: The launch of a spot Bitcoin ETF is the most important event on Wall Street in 30 years

Michael Saylor: The launch of a spot Bitcoin ETF is the most important event on Wall Street in 30 years

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by Max Nevskyi

3 years ago

Michael Saylor, in an interview with Bloomberg, expressed the opinion that the emergence of a spot Bitcoin ETF could be the most significant event on Wall Street since the early 1990s. He compared it to the creation of the S&P index and the ability to invest in all 500 S&P companies with a single transaction.

Saylor asserts that a spot Bitcoin ETF will facilitate access to Bitcoin for both retail and institutional investors. He predicts that this ETF will become a catalyst for the growth in demand for Bitcoin, particularly in anticipation of the Bitcoin halving in April, which will lead to a supply shortage.

Saylor also noted that his company, MicroStrategy, will continue to invest in Bitcoin, aiming to increase the number of Bitcoins per share for its shareholders. MicroStrategy began buying Bitcoin in 2020 and has since provided traditional investors with access to this cryptocurrency.

Currently, MicroStrategy owns 174,530 BTC, which at current prices is approximately $7.3 billion. Saylor, who was once skeptical about Bitcoin, is now one of its biggest proponents. He changed his mind after spending thousands of hours studying Bitcoin and convinced the MicroStrategy board to invest in this cryptocurrency.

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