Bitcoin

Impact

Spot

<ul class="list-ic vertical">
 <li><span>1</span> <a>Michael Saylor of MicroStrategy has appeared in an interview with Bloomberg to discuss the future of Bitcoin.</a></li>
 <li><span>2</span> <a>With the approval of spot ETFs on Bitcoin, the whole crypto market is expected to grow.</a></li>
 <li><span>3</span> <a>MicroStrategy is aiming to buy more bitcoins in 2024, and it desires to own the maximum number of bitcoins.</a></li>
</ul>
<p>Michael Saylor appeared in a conversation with Bloomberg Crypto, where he discussed the growth of the bitcoin and cryptocurrency space pertaining to the spot BTC ETF.&nbsp;</p>
<p>Michael Saylor founded MicroStrategy, a business analytics software, and served as CEO until August 2022, when he accepted the chairman’s role. MicroStrategy was founded in 1989 when Michael Saylor combined his passions for technology, business, and the use of computers.</p>
<p>Michael Saylor was asked various questions about the launch of the Bitcoin ETF, the growth in the price of Bitcoin in 2024, and Microstrategy’s expectations and objectives for next year.</p>
<h2 class="wp-block-heading" id="where-is-bitcoin-heading">Where is Bitcoin heading?</h2>
<p>The first question that was asked was about the growth of Bitcoin, to which Saylor replied very positively. He said that as of now, most of the investments in Bitcoin are from traditional investors or holders.&nbsp;</p>
<p>Bitcoin is expected to attract mainnet investors. In Saylor’s view, the current bullish trend will continue and will support a bullish trend at the beginning of 2024.</p>
<p>In April, coin minting by miners will reduce by 50% from 900 to 450 coins in a day. The increase in demand and decrease in supply will push prices up twofold.</p>
<h2 class="wp-block-heading" id="where-will-the-prices-of-bitcoin-be-towards-the-end-of-2024">Where will the prices of bitcoin be towards the end of 2024?</h2>
<p>Bitcoin is expected to trend higher and will not break the current markup. With the launch of ETF, Bitcoin will show a bullish run. The whole cryptocurrency asset class is expected to grow in terms of investment and prices as a result of ongoing development in the crypto space.</p>
<h2 class="wp-block-heading" id="how-will-spot-etf-change-exposure-to-crypto">How will Spot ETF change exposure to crypto?</h2>
<p>With the launch of the spot BTC ETF, new investors will be attracted and it will bring more funds into the crypto market. It is not the biggest development in space in the last 30 years. The development is very similar to the S&amp;P 500 Index, where investors could invest directly in the index.</p>
<p>In the bitcoin markets, mainstream investors at the individual or institutional level do not have a high bandwidth-compliant channel for putting money into bitcoin, and that will change with the spot ETF.</p>
<h4 class="wp-block-heading">Conclusion: Impact at Microstrategy</h4>
<p><a href="https://www.thecoinrepublic.com/2023/12/19/illuvium-price-prediction-ilv-price-broke-200-ema-what-next/" target="_blank" rel="noopener noreferrer nofollow">MicroStrategy </a>is often thought of as an ETF proxy. He mentioned that MicroStrategy is an operating company. It uses its excess cash flow to buy bitcoin, and it is expected to continue to do so.&nbsp;</p>
<p>MicroStrategy has access to funds at 0% interest, which it plans to use to buy Bitcoin. The company is long on bitcoin and is planning to buy all the bitcoins from the market.</p>
<p>He also said that there are fees to own ETF, but there are no fees or charges to own MSTR.</p>

Michael Saylor is Positive About BTC With Spot ETF Approval

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Thecoinrepublic.com

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