Michael Saylor Says Bitcoin is “Destined to be the Apex ETF Asset”
Michael Saylor, the founder and Chairman of Bitcoin-bullish business intelligence and software firm, MicroStrategy Inc has made some bold predictions about the top digital currency. Speaking at the Latin American Bitcoin & Blockchain Conference (LABITCONF), Michael Saylor said Bitcoin is destined to be the apex ETF asset.
Michael Saylor Makes Bold Bitcoin Predictions
It is common knowledge that Michael Saylor is one of the biggest proponents of Bitcoin today. Under his leadership, MicroStrategy has acquired as much as 174,530 Bitcoin units in line with its Treasury Reserve Allocation. At the conference, he said there is an endless economic war that is masked by the uneven distribution of Capital.
Talking about his favorite term “economic fuel” which denotes capital, Saylor shows how the total global asset of $900 trillion is currently allocated. With Bitcoin only taking $500 billion, gold is worth $12 trillion, government bonds pegged at $300 trillion, and real estate at $330 trillion to mention a few.
This unfavorable allocation to Bitcoin, he believes will change in due course once the world comes to understand the inherent value proposition of Bitcoin. With some of the largest asset managers in the world including BlackRock and Fidelity Investments now vying to launch Bitcoin spot Exchange Traded Fund (ETF) product, the potential flight to BTC is a matter of when not if.
Judging by its growth and popularity, Michael Saylor projects that BTC is on track to become the “apex commodity, technology, property, money, and ETF asset” judging by its multilateral utility and evolutionary potential.
Though there are thousands of ETF products with many tracking crypto assets, Saylor is optimistic BTC ETF will become dominant in no distant time.
Bitcoin to Disrupt Digital Market Investments
When Satoshi Nakamoto invented Bitcoin, the primary value proposition was to serve as an alternative currency to move money. The coin’s uses over the years have changed and besides serving a role as a hedge against inflation, companies like MicroStrategy use it as a store of value in place of more established products like stocks and bonds.
With Bitcoin ETF approval in view, a new shift may be created as investors on Wall Street will find it easier and sensible in terms of regulatory allowance to gain exposure to Bitcoin. The likely shift from equities to Bitcoin ETF may bring such disruption to digital markets investing, a trend Michael Saylor is convinced will fuel the growth of the top coin over other traditional assets in the future.
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Filed under: News - @ December 3, 2023 2:55 pm