Michael Saylor, former CEO of MicroStrategy BlackRock’s iShares Bitcoin Trust (IBIT) was named the ETF with the most inflows last month, in a recent interview.
Michael Saylor: #Bitcoin ‘Gold Rush’ 2024-2034: The era of mass adoption is here.
I had the chance to sit down with @Saylor to discuss the success of the spot Bitcoin ETFs, why our money is toxic, the ideal form of government, building companies on the network and why Bitcoin is… pic.twitter.com/6FPt95hhsG
— Natalie Brunell ⚡️ (@natbrunell) March 6, 2024
Saylor describes the ETF as a “universal API” that gives investors a seamless way to trade funds, including Bitcoin. It is also a global standard for monitoring volatility, trading prices and ease of credit issuance.
Before the launch of ETFs, getting a Bitcoin loan was difficult and had very high interest rates. As a result, individuals have turned to using stocks as collateral for mortgages through broker-dealers such as JP Morgan or Merrill Lynch.
But after these ETFs launched, Saylor said it opened up a new financial landscape. that has provided knowledge, opportunities, and functionality for mainstream investors He added that the importance of this development could not be overstated. and will create an impact on the entire network
With these huge benefits, Saylor believes the potential of a Bitcoin ETF could surpass that of gold ETFs and the S&P 500, which is in line with a Bloomberg analysis that predicted Bitcoin could become a dominant investment vehicle. compared to its counterpart, gold, in the next two years.
What’s interesting is that Saylor’s words line up with research by BitMEX Bitcoin ETFs saw $8.5 billion in inflows, with iShares Bitcoin Trust (IBIT) and Fidelity Wise Bitcoin Origin Trust (FBTC) both breaking records within the first 30 days of launch.
The fund also ranked among the top 20 most daily traded ETFs with combined trading volume of more than $6 billion on Tuesday. which is superior to Microsoft
While MicroStrategy The company is the world’s largest holder of Bitcoin. The company itself has accumulated 193,000 BTC and has announced a private equity offering worth $700 million in order to use the money to accumulate more Bitcoin.
Source: Cryptopotato
2024-03-07 16:01:10
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