Bitcoin ETF

Bitcoin

Spot

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<ul>
 <li>Saylor warns against underestimating the power of a spot Bitcoin ETF in the context of the probability of approval from the U.S. Securities and Exchange Commission (SEC).</li>
 <li>In an interview with Bloomberg on Tuesday, he stated that saying the approval of a Bitcoin ETF could be the most significant development on Wall Street in the last 30 years would not be an exaggeration.</li>
 <li>Some analysts predict a 98% probability of approval on earlier dates, based on factors such as companies like BlackRock frequently holding meetings with SEC officials.</li>
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<p><strong>Michael Saylor, one of the biggest advocates for Bitcoin’s mainstream adoption, emphasizes the importance of not underestimating spot Bitcoin ETFs!</strong></p>
<h2 id="strong-saylor-s-predictions-for-spot-bitcoin-etfs-strong"><strong>Saylor’s Predictions for Spot Bitcoin ETFs</strong></h2>
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-126547" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-49.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="Bitcoin-BTC" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-49.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-49.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-49.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-49.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-49.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-49.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-49.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p>
<p>Michael Saylor, the founder of MicroStrategy and one of the most prominent advocates for Bitcoin’s mainstream adoption, suggested that if spot ETF approval comes in January 2024, it could create a significant demand shock for Bitcoin. Saylor warns against underestimating the power of a spot Bitcoin ETF in the context of the probability of approval from the U.S. Securities and Exchange Commission (SEC).</p>
<p>In an interview with Bloomberg on Tuesday, he stated that saying the approval of a Bitcoin ETF could be the most significant development on Wall Street in the last 30 years would not be an exaggeration. Saylor mentioned that spot ETF approval could have a similar impact to the launch of S&amp;P 500 index funds in the stock market.</p>
<p>He foresaw that SEC’s approval of spot ETFs could initiate a demand shock for BTC and added that the Bitcoin Halving event planned for the second quarter of 2024 could make the cryptocurrency more valuable and less available.</p>
<p>Bitcoin (BTC) is currently trading about 13% higher than a month ago, and the volatility leading up to the SEC decision on January 10, 2024, is still to be seen. Some analysts predict a 98% probability of approval on earlier dates, based on factors such as companies like BlackRock frequently holding meetings with SEC officials.</p>
<h2 id="strong-microstrategy-s-btc-accumulation-strong"><strong>MicroStrategy’s BTC Accumulation</strong></h2>
<p>Considering the upward trend, MicroStrategy, currently the largest institutional owner of Bitcoin, could likely accumulate more of the cryptocurrency. Previously reported by COINOTAG, the company disclosed its $5.3 million BTC purchase on November 2, 2023, when the BTC price was just above $34,000.</p>
<p>The company started accumulating BTC in August 2020 and currently holds a total of 158,400 Bitcoins. Meanwhile, SEC officials have met with spot ETF applicants 24 times, indicating a possibility of approval before January 10.</p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com/michael-saylors-expectation-for-spot-bitcoin-etf-draws-attention-not-to-be-underestimated/">Michael Saylor’s Expectation for Spot Bitcoin ETF Draws Attention: Not to be Underestimated!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>
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Michael Saylor’s Expectation for Spot Bitcoin ETF Draws Attention: Not to be Underestimated!

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