X/Twitter

Bitcoin ETF

Bitcoin

Squawk

BlackRock

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p lang="en-GB" xml:lang="en-GB">Founder of MicroStrategy and its former chief executive <a href="https://u.today/michael-saylor-breaks-silence-on-new-bitcoin-quickly-approaching-ath" rel="noopener noreferrer nofollow">Michael Saylor</a>, who is now responsible for the company’s Bitcoin strategy, has talked to CNBC’s Squawk Box host about Bitcoin, its strong points and further prospects in the financial world.</p>
<p lang="en-GB" xml:lang="en-GB">He has also explained why MicroStrategy is likely to continue to attract funds from Bitcoin lovers and compete with spot Bitcoin ETFs like BlackRock.</p>
<h2 id="saylor-expects-bitcoin-s-popularity-to-expand">Saylor expects Bitcoin's popularity to expand</h2>
<p lang="en-GB" xml:lang="en-GB">Michael Saylor shared his vision of Bitcoin institutional adoption in the future with host Andrew Sorkin.</p>
<p lang="en-GB" xml:lang="en-GB">Saylor stated that compared to gold, BTC is much more progressive and can be transacted in a few minutes to the other side of the world. Besides, “Bitcoin is going to eat gold,” he reckons, as BTC has all the best attributes of it and none of its defects. Bitcoin is going to divert funds from gold and other risky assets and ETFs, such as SPY, according to Saylor.</p>
<blockquote>
 <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> is Digital Property. It is superior to other investments such as Gold, Equity, or Real Estate because it is digital, available, global, ethical, &amp; useful to millions of companies and billions of people. <a href="https://t.co/738dblB0Zt" rel="noopener noreferrer nofollow">pic.twitter.com/738dblB0Zt</a></p>— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1767178599390458285?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 11, 2024</a>
</blockquote>
<h2 id="microstrategy-surpasses-blackrock-on-bitcoin-holdings">MicroStrategy surpasses BlackRock on Bitcoin holdings</h2>
<p lang="en-GB" xml:lang="en-GB">As the business intelligence giant <a href="https://u.today/microstrategy-trumps-blackrock-with-new-12000-btc-buy-at-72000-bitcoin-price" rel="noopener noreferrer nofollow">scooped up another 12,000 BTC</a> worth approximately $821.7 million, it left the largest spot Bitcoin ETF of BlackRock behind, now holding a total of 205,000 BTC versus BlackRock’s 195,985.31.</p>
<p lang="en-GB" xml:lang="en-GB">Despite spot Bitcoin exchange-traded funds accumulating more and more BTC, offering investors an opportunity to expose themselves to this new asset class, Saylor believes that MicroStrategy can still successfully compete with them, while remaining a proxy for Bitcoin.</p>
<p lang="en-GB" xml:lang="en-GB">The reason for this is that MicroStrategy purchased a large portion of its Bitcoin using a convertible debt as it sold shares to its investors and raised money to buy Bitcoin. Therefore, these investors are getting their investment yield on the shares, while those who invest in Bitcoin via the ETFs, have to pay a monthly fee.</p>
<h2 id="bitcoin-reaches-new-all-time-high-close-to-72-000">Bitcoin reaches new all-time high close to $72,000</h2>
<p lang="en-GB" xml:lang="en-GB">Earlier today, Bitcoin smashed the $71,000 all-time high, and later it surpassed the $72,000 level before rolling back a little. Thus, today, BTC has so far demonstrated growth of nearly 6%.</p>
<p lang="en-GB" xml:lang="en-GB">Bitcoin maximalist Max Keiser took to X/Twitter to remind the cryptocurrency community about his earlier prediction that Bitcoin would eventually reach $220,000. Today, he added that he raised his upper target for this bull cycle to $750,000.</p>
<blockquote>
 <p lang="en" dir="ltr">Monday works. 😎👍$220,000 in play. My upper target for this cycle raised to $750,000 “<a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> has no top because fiat money has no bottom” - Max Keiser <a href="https://t.co/goTZ1qTvXY" rel="noopener noreferrer nofollow">https://t.co/goTZ1qTvXY</a></p>— Max Keiser (@maxkeiser) <a href="https://twitter.com/maxkeiser/status/1767168084777763197?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 11, 2024</a>
</blockquote>

'Bitcoin Popularity Secret' Revealed by Michael Saylor on CNBC

Table of Contents

U_Today

Other articles published on Mar 11, 2024

Arbitrum to unlock $2.32B in vested tokens on March 16

Bitcoin All-Time-High $70,000!

Abu Dhabi Bets Big on AI With New $100 Billion Ambition

Recent Surge in Cryptocurrency: Bitcoin and Meme Coins Update

Watch Out For These 2 Tokens On The Verge Of A Breakout

South Korea sets the stage for enhanced oversight of digital asset taxes

Join our free newsletter for daily crypto updates!