Michael Saylor – CEO of the software platform MicroStrategy – said investing in his company is almost like allocating funds in the still nonexistent in the USA – Bitcoin spot ETF. His organization is known as one of the most prominent BTC HODLers as it owns over $5.5 billion worth of the primary cryptocurrency.
MicroStrategy could count as Bitcoin Spot ETF
The long-awaited Bitcoin exchange-traded fund is still waiting to see the light of day in the United States as the SEC continues to reject such requests from many companies. However, according to MicroStrategy’s Michael Saylor, investors shouldn’t be desperately anticipating him, but allocating some of their wealth to his company.
“We are kind of like your nonexistent spot ETF,” he maintained.
A spot Bitcoin ETF invests directly in BTC, which means that buyers will be exposed to the main digital asset without holding and storing it on platforms or in private wallets. Bearing in mind that MicroStrategy owns over 129,000 BTC, worth over $5.5 billion, people looking for such exposure could simply invest in the company:
“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 firm had no intention of deviating from its BTC strategy. Additionally, he said he will continue to accumulate and hold the asset at the macro level.
The executive believes this concept is appropriate since his company generates considerable revenue, which should not be held in depreciating assets such as the American dollar. It is much wiser to convert the cash flows into bitcoin, which has the potential to increase its valuation in time, he argued:
“As we generate gas flows, we believe the responsible thing for our shareholders to do is to convert a devaluing currency into an appreciating asset.”
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 more bullish than ever on Bitcoin. The future is bright,” Saylor said back then.
He referred to Biden’s executive order on cryptocurrencies, believing it signifies a “green light” for the primary digital asset:
“Bitcoin has been embraced. The administration has given a green light to Bitcoin. Politicians are now competing who’s the most pro-bitcoin.”
Talking about the future price of the asset, he envisioned it reaching $1 million.
