MicroStrategy Chairman Michael Saylor recently highlighted the potential impact the upcoming spot Bitcoin ETF will have on the market.
In a Bloomberg TV interview, Saylor argued that this development, parallel to the introduction of the S&P 500 ETF, could be the most significant development on Wall Street in 30 years. According to Saylor, mainstream investors have been lacking a “high-bandwidth” compatible channel for investing in Bitcoin, a gap that Bitcoin ETFs are poised to fill.
“Spot Bitcoin ETFs may be the biggest development on Wall Street in the last 30 years.”
michael sailor
Saylor expects daily Bitcoin production to fall from 900 to 450 due to a supply shock during the April halving, following a demand shock for Bitcoin (BTC) due to the introduction of spot ETFs. Despite predicting a massive rally for Bitcoin next year, Saylor refrained from speculating on specific price levels.
Addressing concerns about a possible shift in investor demand away from MicroStrategy and toward spot ETFs, Saylor emphasized MicroStrategy’s unique position as an operating company that can use cash flow, or “intelligent leverage,” to bolster its Bitcoin holdings. Unlike ETFs, MicroStrategy does not charge ownership fees.