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