Michael Saylor: Bitcoin ETF would be a 'milestone on the road to institutional adoption'

The Block
The Block

30 Jun 2023 1:36 PM

MicroStrategy's Michael Saylor covered everything from spot bitcoin ETFs to Bitcoin maximalism, unregistered securities and “sawdust donuts.”...

  • MicroStrategy Executive Chairman Michael Saylor believes that a Bitcoin ETF would be a significant milestone for institutional adoption but may not lead to major price gains.
  • Saylor sees a spot ETF as an endorsement of Bitcoin as a legitimate asset and a convenient onramp for institutional investors.
  • Several companies, including BlackRock, Wisdom Tree, Bitwise, Invesco, Valkyrie, and Fidelity, have filed for spot bitcoin funds.
  • MicroStrategy was the first publicly traded company to buy Bitcoin as part of its capital allocation strategy in August 2020.
  • Saylor considers Bitcoin dollar-cost averaging as the best-performing asset over the last three years, outperforming gold, silver, long-dated bonds, and stock indices.
  • Saylor admits underestimating Bitcoin's volatility but believes in its potential as an instrument of economic empowerment.

The sentiment of the article is generally positive towards Bitcoin and its potential as a legitimate asset class and instrument of economic empowerment.

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You May Ask

What is Michael Saylor's view on the impact of a Bitcoin ETF on price gains?Which companies have filed for spot bitcoin funds?When did MicroStrategy first buy Bitcoin as part of its capital allocation strategy?How does Saylor compare the performance of Bitcoin to other assets over the last three years?What is Saylor's perspective on Bitcoin's volatility and its potential for economic empowerment?

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