2024

Bitcoin ETF

Bitcoin

<p class="is-style-lead">MicroStrategy CEO Michael Saylor sees Bitcoin ETFs outpacing gold and rivaling the S&amp;P 500, with the company preparing a $700 million Bitcoin investment.</p>
<p>“We thought that maybe Bitcoin was a competitor to gold, but it has actually run up the leaderboard, and now it’s starting to nip at the heels of the S&amp;P 500 Index ETFs,” Saylor said.</p>
<p>According to the MicroStrategy chief executive, Bitcoin ETFs could soon outperform gold ETFs, traditionally the largest commodity ETFs in the United States.</p>
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   <p lang="en" dir="ltr">Michael Saylor: <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> 'Gold Rush' 2024-2034: The era of mass adoption is here.<br><br>I had the chance to sit down with <a href="https://twitter.com/saylor?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Saylor</a> 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… <a href="https://t.co/6FPt95hhsG" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/6FPt95hhsG</a></p>— Natalie Brunell ⚡️ (@natbrunell) <a href="https://twitter.com/natbrunell/status/1765328439551099315?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">March 6, 2024</a>
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<p>BitMEX Research indicates that, since its inception less than two months ago, <a href="https://crypto.news/tag/bitcoin-etf/" data-type="link" data-id="https://crypto.news/tag/bitcoin-etf/" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> have attracted $8.5 billion in net inflows despite significant outflows from the Grayscale Bitcoin Trust.</p>
<p>The iShares Bitcoin Trust and Fidelity Wise Bitcoin Origin Trust recorded historic inflows within their first month, placing them among the 20 most-traded ETFs.</p>
<p>On Mar. 5, BlackRock’s Bitcoin ETF saw a record-setting net inflow of <a href="https://crypto.news/blackrock-bitcoin-etf-record-inflows/" data-type="link" data-id="https://crypto.news/blackrock-bitcoin-etf-record-inflows/" rel="noopener noreferrer nofollow">$788 million</a>, marking an unprecedented daily increase for the investment vehicle. Traders appeared to take advantage of a dip in the market.</p>
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   <p lang="en" dir="ltr">If they keep up this pace and add $10b a month (which is pretty insane but very poss if btc price complies) they will pass gold ETFs this summer</p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1765025445672538516?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">March 5, 2024</a>
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<p>Saylor described ETFs as a universal API for investors, facilitating easy transitions between funds and providing access to Bitcoin. This innovation has lowered the barriers to using Bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) as collateral, offering mainstream investors new financial opportunities and functionalities.</p>
<p>Saylor stressed the importance of ETFs in expanding financial accessibility and highlighted the fund’s role in integrating Bitcoin into traditional investment portfolios.</p>
<p>You might also like: <a href="https://crypto.news/microstrategys-mstr-stock-jumps-23-as-it-unveils-600m-offering-to-buy-more-bitcoin/" rel="noopener noreferrer nofollow"> MicroStrategy’s MSTR stock jumps 23% as it unveils $600m offering to buy more Bitcoin </a></p>
<h2 class="wp-block-heading" id="strong-microstrategy-upsizes-bitcoin-focused-note-offering-strong"><strong>MicroStrategy upsizes Bitcoin-focused note offering</strong></h2>
<p>MicroStrategy <a href="https://www.microstrategy.com/press/microstrategy-announces-pricing-of-offering-of-convertible-senior-notes_03-06-2024" data-type="link" data-id="https://www.microstrategy.com/press/microstrategy-announces-pricing-of-offering-of-convertible-senior-notes_03-06-2024" target="_blank" rel="noopener noreferrer nofollow">announced</a> a $700 million private offering of 0.625% convertible senior notes due 2030, with an option for initial purchasers to buy an additional $100 million in notes.</p>
<p>Initially set at $600 million, the upsized offering is expected to close by Mar. 8. Under certain conditions, the notes, bearing semi-annual interest, may be converted into cash, MicroStrategy class A common stock, or a mix.</p>
<p><a href="https://crypto.news/tag/microstrategy/" data-type="link" data-id="https://crypto.news/tag/microstrategy/" rel="noopener noreferrer nofollow">MicroStrategy</a> plans to use the proceeds to purchase more Bitcoin and for general corporate purposes, expecting net proceeds of approximately $684.3 million or up to $782 million if the additional notes are fully purchased.</p>
<p>Read more: <a href="https://crypto.news/microstrategy-bitcoin-for-155m/" rel="noopener noreferrer nofollow"> MicroStrategy adds 3k more Bitcoin for $155m </a></p>

Saylor: Bitcoin ETFs surpass traditional assets, MicroStrategy expands to $700m investment

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