July 14, 2024

Micro Strategy Michael Sayler says US is closest to Bitcoin ETF

2 min read
© Reuters. Micro Strategy The United States is closest to Bitcoin ETF, says Michael Sayler

Michael Saylor – CEO of MicroStrategy (NASDAQ 🙂 – said that investing in his company is almost like funding the Bitcoin spot ETF, which is not yet recognized in the United States.

MicroStrategy is the largest corporate cash holder in the world, with over $ 5.5 billion in btc of corporate money.

“We’ll be like the spot ETF without you,” he argued.

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A Bitcoin ETF invests directly in BTC, which means investors will be able to disclose key digital assets without having to carry out crypto-asset protection.

Keeping in mind that MicroStrategy holds 129,000 BTC worth over $ 5.5 billion, individuals looking for such exposure may invest in the company:

“If you want 2% exposure to Bitcoin, you put 2% of your portfolio in microstrategy and you can invest whatever you want in the other 98% of your portfolio.

They do not want the CEO of a public enterprise to be unpredictable and inconsistent.

Last week, Sailor – a Bitcoin activist – assured his business intelligence company that it had no intention of changing its corporate BTC strategy.

It also said it would continue to accumulate and maintain crypto assets at the macroeconomic level.

The manager believes that this strategy is appropriate for a company with consistent positive cash flow, and does not make sense in allocating these resources to depreciating assets such as the US dollar.

According to Sailor, it would be prudent to convert cash into bitcoin, which has the potential to increase its value over time, he argued:

“When we create cash flow, the responsible thing to do for our shareholders is to turn the devalued currency into an appraisal asset.”

In April, Sailor was asked if he was still optimistic about the future of Bitcoin amid the fall in crypto-asset prices.

“People ask me if I still believe in bitcoin.

I am more interested in Bitcoin than ever before. The future is bright, “said Sailor.

Commenting on the latest regulations being discussed in the United States, Sailor said he is optimistic about the legitimate future of the market.

“Bitcoin is accepted. Management has given the green light to Bitcoin. Politicians are now vying for who will be the most supportive of Bitcoin.

By cryptonizing

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