JUST

2024

Bitcoin

<p>“<em>Wall Street loves bitcoin. They are buying 12.5 times more bitcoins per day than the network can produce</em>,” astutely notes crypto trader Pomp on Twitter. According to him, daily acquisitions far exceed the network’s production, reaching up to 12.5 times more. For Michael Saylor of MicroStrategy, Bitcoin spot ETFs have played a crucial role in popularizing cryptocurrency, thus propelling its price to new heights.</p>
<h2 id="h-bitcoin-etfs-stimulate-demand-and-propel-prices">Bitcoin ETFs stimulate demand and propel prices</h2>
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <div class="entry-content-asset">
   <div class="social-embed-container">
    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr">JUST IN – Michael Saylor on <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> hitting $50k: "People are beginning to realize that there is 10x as much demand for Bitcoin coming in through these ETFs" <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f402.png" alt="🐂" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br> <a href="https://t.co/f53Z53DXKj" rel="noopener noreferrer nofollow">pic.twitter.com/f53Z53DXKj</a></p>— Bitcoin Magazine (@BitcoinMagazine) <a href="https://twitter.com/BitcoinMagazine/status/1757177876778991847?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 12, 2024</a>
    </blockquote>
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
   </div>
  </div>
 </div>
 <figcaption class="wp-element-caption">
  “<em>Michael Saylor on bitcoin hitting 50K$: ‘People are starting to realize that there’s 10x more demand for Bitcoin coming from these ETFs’.</em>“
 </figcaption>
</figure>
<p>Michael Saylor, the leading figure of MicroStrategy (and of Bitcoin), states that <strong>the recent introduction of Bitcoin ETFs leads to a rise in the cryptocurrency’s prices</strong>, due to a massive imbalance between supply and demand in the cryptocurrency world. According to him, nearly a decade of pent-up demand for <strong>a BTC product accessible to retail investors</strong> is being released.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>“<em>There’s ten years of pent-up demand that people have been waiting for these ETFs, and finally, traditional investors can access Bitcoin, and I think that’s what’s driving the influx of capital into this asset class</em>,” he highlighted in an interview with <a href="https://www.coindesk.com/fr/markets/2024/02/13/michael-saylor-believes-demand-for-bitcoin-products-is-10x-the-supply/" target="_blank" rel="noopener noreferrer nofollow">CoinDesk</a>.</p>
<p>The current demand for Bitcoin stems from <strong>its uncorrelated nature with traditional risk assets</strong> and its lack of exposure to specific events such as quarterly earnings, conflicts, or supply chain disruptions, explained Saylor, former CEO of MicroStrategy.</p> 
<div class="tradingview-widget-container tradingview--mini-chart">
 <div class="tradingview-widget-container__widget"></div>
 <div class="tradingview--mini-chart--dark">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
 </div>
 <div class="tradingview--mini-chart--light">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
 </div>
 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">BTCUSD chart</span></a> by TradingView
 </div>
</div> 
<p>Furthermore, MicroStrategy, a pioneer in accumulating bitcoins, is even considering <strong>rebranding itself as a ‘Bitcoin development company’</strong>, in line with its strategy to expand its BTC ownership and foster blockchain growth. Notably, MicroStrategy is originally a software publisher facilitating business intelligence.</p>
<p>According to Saylor, this model offers greater flexibility compared to an investment trust, allowing the company to <strong>develop software</strong>, generate cash flows, accumulate BTC for its shareholders, and contribute to the growth of the namesake network.</p>
<p>“<em>It’s natural for us to position ourselves as a Bitcoin development company</em>,” he concluded, comparing MicroStrategy to a development company focused on sectors such as real estate or oil.</p>
<h2 id="microstrategy-unstoppable-growth-despite-bitcoin-uncertainty">MicroStrategy: Unstoppable growth despite Bitcoin uncertainty</h2>
<p>MicroStrategy Incorporated (Nasdaq: MSTR), has just unveiled staggering results for the fourth quarter of 2023 on its website. With a focus on the massive increase in its bitcoin holdings, 190,000 BTC to date, and the deployment of MicroStrategy AI, the company has recorded a double-digit growth in its revenue.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/cointribune?a=2831A22E17" target="_blank" rel="noopener noreferrer nofollow">20€ de bonus pour votre inscription sur Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">Ce lien utilise un programme d’affiliation</a>
</div>
<p>Aware of the benefits that MicroStrategy can derive from its bitcoins, CEO Phong Le emphasizes the commitment to technological innovation.</p>

The influence of Bitcoin ETFs on the growth of the market: Michael Saylor’s analysis

Mục lục

Cointribune EN

Các bài viết khác được xuất bản trên 14 thg 2, 2024

Kraken started requiring users from the UK to verify their self-custodial crypto wallets

Japan Urges Banks to Tighten Protections on Crypto Transactions Following Rise in Fraud Cases

Ethereum: Close Above $2700 May Trigger Bigger Rally

Coinbase (COIN) Next In Cathie Wood’s Ark Invest Radar After This Crypto Stock Buy

High-profile sports sponsorships driving Crypto.com user base expansion

Anthony Scaramucci Lauds BlackRock’s Bitcoin ETF for Surpassing $5 Billion Mark

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!