You might like: Michael Saylor’s Striking Insight on Bitcoin!

Emphasizing the importance of this development, Michael Saylor said “What was so important was the creation of the S&P index and the ability to invest in 500 S&P companies with a single transaction”. He also noted that the spot Bitcoin ETF would open doors for mainstream retail and institutional investors who previously could not access a suitable channel to invest in Bitcoin.

Saylor suggested that the demand-creating potential of this ETF would be a major catalyst and then the Bitcoin halving in April would create a “supply shock”.

“I don’t think we’re seeing a 2 to 10 fold increase in demand along with supply for a scarce, desirable asset that people will want to hold for a long time. That’s why we expect 2024 to be a big bull run for the asset class,” he said.

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