MicroStrategy’s Saylor: “Bitcoin Will be Only Crypto ETF”

According to MicroStrategy founder and Executive Chairman Michael Saylor, Bitcoin is poised to be the sole digital asset available on American stock exchanges through exchange-traded funds (ETFs). During MicroStrategy’s 2024 quarterly earnings call, Saylor expressed confidence that Bitcoin would remain the only cryptocurrency approved for a spot ETF in the United States.

The Securities and Exchange Commission (SEC) approved 11 spot Bitcoin ETFs in January, a significant shift after a decade of rejecting such financial products. These ETFs allow investors to purchase shares that reflect the price of Bitcoin directly through their brokerage accounts.

Despite this progress for Bitcoin, the outlook for other cryptocurrencies such as Ethereum is less certain. Major asset managers including BlackRock, Fidelity, and Grayscale have submitted applications for spot Ethereum ETFs. However, industry analysts are skeptical about these getting SEC approval by the upcoming May deadline, especially following a lawsuit against the SEC by Ethereum software company Consensys, which challenges the classification of Ethereum as a security.

Saylor emphasized Bitcoin’s unique status in the recent earnings call, noting it as the singular cryptocurrency that publicly traded companies can include on their balance sheets and capitalize on. He remarked, “It’s the one crypto asset that Wall Street firms are going to be able to sell on a spot ETF basis.”

He further predicted that Bitcoin would be at the center of the institutional asset economy, influencing markets such as options, securities, money management, mutual funds, and ETFs.

MicroStrategy has been an avid supporter of Bitcoin since 2020, advocating for its investment value over holding cash, which they argue loses purchasing power. As of the latest update, the Tyson, Virginia-based company has accumulated 214,400 Bitcoins, valued at over $13 billion, representing about 1% of Bitcoin’s total circulating supply.

Join Our New ReadySetCrypto Platform!

Join our new interactive, community-driven ReadySetCrypto platform!

What we’ve found is that the Crypto market moves too quickly to support a TradFi portfolio-based market.

The Crypto market is all about identifying opportunities AS THEY OCCUR, and understanding precisely when to enter, and most importantly, when to exit.

ReadySetCrypto has been re-engineered to help you identify these opportunities as they occur with clear, time-tested price-based signals.

Better yet, you can convert your account to this new service for the same price (or probably less) than what you’re paying now.

You can check it out for free for a week by signing up at readysetcrypto.ONE, where you can access the new site either on your workstation, or on a new mobile app by installing the Mighty Network app on Android or Apple.

If you’d like to convert your account, please let us know by contacting us at support (at) readysetcrypto.tempurl.host

We’ll take care of ensuring that your old subscription is closed down, and that we match (or improve) your monthly subscription rate. Annual rates are also available for a significant discount.

Convert your account today and let’s make this new year an amazing one!

Sincerely….your team at ReadySetCrypto