Michael Saylor, former CEO of Precision Strategy firm BlackRock's iShares Bitcoin Trust (IBIT) was named the ETF with the most inflows last month, in a recent interview.
Saylor describes ETFs as a “universal API” that gives investors a seamless way to trade money, including Bitcoin. It is also a global standard for monitoring volatility, trading rates and ease of issuing credit.
Before the launch of ETFs, getting a Bitcoin loan was difficult and interest rates were very high. As a result, individuals turned to using stocks as collateral for mortgages through broker-dealers such as JP Morgan or Merrill Lynch.
But after launching these ETFs, Saylor said it opened up a new financial landscape. Which provided knowledge, opportunities and jobs to key investors. He added that the importance of this development cannot be overstated. It will create an impact on the entire network
With such huge benefits, Saylor believes that the potential of Bitcoin ETFs could exceed that of gold ETFs and the S&P 500, which is in line with Bloomberg analysis that predicted Bitcoin will become a dominant investment vehicle. Compared to its gold counterpart over the next two years.
What's interesting is that Saylor's words align with the research he conducted BitMEX Bitcoin ETFs saw $8.5 billion in inflows, with the iShares Bitcoin Trust (IBIT) and Fidelity Wise Bitcoin Origin Trust (FBTC) both breaking records within their first 30 days of launch.
The fund also ranked among the top 20 daily ETFs with total trading volume of more than $6 billion on Tuesday. Which is superior to Microsoft
While MicroStrategy is the largest holder of Bitcoin in the world. The company itself has accumulated 193,000 Bitcoin and announced a private equity offering worth $700 million in order to use the funds to accumulate more Bitcoin.
source: Encrypted potatoes
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