Michael Saylor, founder and CEO of software giant MicroStrategy, made a bold prediction. He claimed that Bitcoin will be the only digital asset to be traded on American exchanges through ETFs.
During MicroStrategy's 2024 quarterly earnings call, Saylor expressed his views on Bitcoin's future in the United States. “It is quite clear that Bitcoin is the only crypto asset that will be approved for sale in the United States in the form of a spot ETF.” said.
Saylor also specifically highlighted Bitcoin's unique position in the market. He claimed that Bitcoin is “the only cryptocurrency that a publicly traded company can keep on its balance sheet and convert into capital.”
Moreover, Saylor predicted that Wall Street firms could also sell Bitcoin on a spot ETF basis.
Looking at the overall financial ecosystem, Saylor added, “The entire modern institutional asset economy, the options market, the securities market, the money manager system, institutional investment funds, institutional ETFs, will all be centered around Bitcoin as a digital property going forward.”
Saylor's company, MicroStrategy, announced yesterday that it had purchased an additional $7 million worth of BTC.
*This is not investment advice.