MicroStrategy: The Bitcoin Sportscar That Won’t Slow Down for Spot ETFs
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MicroStrategy, a leading software company and one of the biggest Bitcoin holders, has reaffirmed its commitment to the cryptocurrency despite the possibility of a spot Bitcoin ETF approval in the US.
In an interview with Bloomberg TV, Michael Saylor, the co-founder and chairman of MicroStrategy, said that his firm will continue to offer a unique and attractive way for investors to gain exposure to Bitcoin, even if a spot BTC ETF is approved by the Securities and Exchange Commission (SEC).
Saylor compared his firm to a “sportscar” that can use leverage and generate yields by investing in Bitcoin, whereas a spot BTC ETF will be like a “supertanker” that can bring billions of dollars from large hedge funds and sovereigns into the crypto space.
“We are a unique instrument; we are the sportscar, whereas the spot ETF is going to be the supertanker,” Saylor said. “Spot ETFs will serve another set of customers in a synergistic fashion to grow the entire asset class.”
We Will Accumulate as Much Bitcoin as We Can: Saylor
According to CoinTelegraph, MicroStrategy currently holds more than 152,800 BTC on its balance sheet, worth over $4.4 billion at current prices. The firm has also announced its intention to sell up to $750 million in class A common stock, with the primary use of the proceeds being to acquire more Bitcoin.
Saylor said that his goal is to “accumulate as much Bitcoin as we can” and that he believes the cryptocurrency is “the most compelling technical innovation of our lifetime.”
MicroStrategy is not alone in its bullish stance on Bitcoin. Several other companies, such as Tesla, Square, and PayPal, have also invested in or integrated Bitcoin into their businesses. However, MicroStrategy stands out as the most aggressive and vocal proponent of Bitcoin among publicly traded companies.
The approval of a spot BTC ETF in the US has been a long-awaited event for many crypto enthusiasts, as it could potentially boost the adoption and legitimacy of the benchmark cryptocurrency. However, the SEC has repeatedly delayed or rejected such proposals, citing concerns over market manipulation, custody, and investor protection.
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