Michael Saylor – CEO of the software platform MicroStrategy – said investing in his company is almost like allocating funds in the still nonexistent the USA – Bitcoin spot ETF. His company is a prominent BTC HODLer, having more than $5.5 billion in primary cryptocurrency.
MicroStrategy Might Count as a Bitcoin Spot Exchange Fund
The long-awaited Bitcoin spot-exchange-traded fund has yet to be approved by the US Securities and Exchange Commission. However, according to MicroStrategy’s Michael Saylor, investors should not desperately anticipate it but allocate some of their wealth to his company.
“We are kind of like your nonexistent spot ETF,” he maintained.
The Bitcoin spot ETF invests directly on BTC. Buyers will be able to have exposure to this leading digital asset, without needing to store or hold it on platforms. People who want such exposure can simply invest in MicroStrategy, which has over 129K BTC and is worth more than $5.5 Billion.
“If you want to be 2% exposed to bitcoin, you’d put 2% of your portfolio into MicroStrategy, and the other 98% of your portfolio, you can invest in whatever you want. They don’t want the CEO of a publicly-traded company to be unpredictable and random.”
Last week, Saylor – an outspoken bitcoin evangelist – assured that his intelligence company has no intentions of pivoting from its BTC strategy. He stated that it will continue to acquire and hold the asset at macroeconomic levels.
This is a good idea, he believes, because his company generates substantial revenue. These should not be held in assets that are depreciating such as the American dollars. He suggested that it would be smarter to convert the cash flows to bitcoin which can increase its value over the course of time.
“As we generate gash flows, we think that the responsible thing to do for our shareholders is we convert currency which is devaluing, into an asset which is appreciating.”
Saylor has high hopes for Bitcoin
MicroStrategy’s CEO reiterated his optimistic BTC stance earlier in April. “People ask me if I’m still bullish on Bitcoin. I am now more bullish about Bitcoin than ever. The future is bright,” Saylor said back then.
He touched upon Biden’s executive order on cryptocurrencies, opining it means a “green light” for the leading digital asset:
“Bitcoin has been embraced. Bitcoin was given the green light from the government. Politicians are now competing who’s the most pro-bitcoin.”
When asked about the future market price for the asset, he said that it should be $1 million.