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Spot Bitcoin ETF biggest Wall St development in 30 years: Michael Saylor

Press Releases Crypto News Cointelegraph Spot Bitcoin ETF biggest Wall St development in 30 years: Michael Saylor

A spot Bitcoin (BTC) exchange-traded fund (ETF) approval could be the biggest development on Wall Street since the early 1990s, says Bitcoin bull Michael Saylor.

“It’s not unreasonable to suggest that this may be the biggest development on Wall Street in 30 years,” Saylor said in a Dec. 19 interview with Bloomberg.

“The last thing that was this consequential was the creation of the S&P index and the ability to invest in all 500 S&P companies via one trade at the same time.”

The $BTC Spot ETF may be the biggest development on Wall Street in the last 30 years. My discussion of #Bitcoin in 2024, Spot ETFs vs. $MSTR, and the emergence of bitcoin as a treasury reserve asset with @KaileyLeinz on Bloomberg @Crypto. pic.twitter.com/QtPdBOhMDr

— Michael Saylor⚡️ (@saylor) December 19, 2023

Saylor explained that a spot Bitcoin ETF would open the door to mainstream retail and institutional investors that previously hadn’t been able to access a “high bandwidth compliant channel” to invest in Bitcoin.

This ETF would be a major catalyst driving demand, followed by a “supply shock” in April when the Bitcoin halving event takes place, Saylor explained.

“I don’t think we’ve ever seen a 2 to 10x increase in demand combined with having and supply in a scarce, desirable asset that people want to hold for a long period of time.”

“So I think we’re expecting 2024 is going to be a major bull run for the asset class,” Saylor said.

Saylor confirmed that MicroStrategy — his business intelligence firm and Bitcoin holding company —

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Author: Brayden Lindrea

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