The co-founder and CEO of MicroStrategy, known as Bitcoin Maxi, Michael Saylor, believes that spot BTC ETF will be the biggest Wall Street development in the past years.
In a recent Bloomberg interview, Michael Saylor said, “It’s not unreasonable to suggest that this may be the biggest development on Wall Street in 30 years,”
adding that “the last thing that was this consequential was the creation of the S&P index and the ability to invest in all 500 S&P companies via one trade at the same time.”
According to Saylor, the approval of a spot Bitcoin ETF will enable major traditional finance institutions as well as retail investors to invest in Bitcoin who were not able to get access to this digital asset class due to compliance and regulatory environments.
“I think we are expecting 2024 is going to be a major bull run for the asset class,” he said.
While a spot ETF could allow direct access to Bitcoin investment, MicroStrategy is also working in the same direction by purchasing Bitcoin using traditional investors’ capital.
MicroStrategy has been gradually buying Bitcoin since 2020, and it now owns 174,530 after the recent purchase of 16,130 BTC on November 30, according to data from Buy Bitcoin Worldwide.
“Our goal is always to find a way to pursue more Bitcoin per share for our shareholders,” Saylor said, further adding, “We provide leverage [to investors] and we don’t charge a fee. We offer sort of a high performance vehicle for people that are Bitcoin long investors.”
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