Michael Saylor Claims BTC Spot ETF Is Biggest Wall Street Development In Decades

The impending Bitcoin (BTC) Spot ETF applications hold considerable importance for all markets, according to Michael Saylor, the Executive Chairman of MicroStrategy (MSTR), who emphasized this point during a recent Bloomberg TV interview. Saylor has long since been a strong advocate for Bitcoin and its potential, to the point where he has bought a tremendous amount of the flagship crypto for MicroStrategy.

A historic development

Saylor suggested that the potential approval of the exchange traded funds could be the most significant development on Wall Street in three decades, drawing a parallel to the introduction of previous ETFs which helped provide investors with easy exposure to various markets.

Saylor highlighted the current lack of a high bandwidth compliant channel for mainstream investors, both individual and institutional, to invest in Bitcoin. He anticipates a transformative shift with the introduction of the ETF, predicting a surge in demand for BTC, followed by a supply shock during the upcoming halving event, reducing daily Bitcoin production to 450 as compared to its current levels which are at 900.

Saylor remains bullish

Saylor expressed optimism about a major bullish trend for Bitcoin as well as all of the other cryptocurrencies by association in the coming year but did not speculate on the potential price increase and did not provide any specific numbers or predictions.

Moreover, when it came to addressing concerns about whether a Spot ETF might divert investor interest regarding MicroStrategy, often considered a Bitcoin ETF proxy, Saylor clarified that MSTR is an operational company capable of using its cash flow or intelligent leverage to enhance its holdings. He also emphasized the absence of ownership fees for MSTR, which helps provide an important distinction when it comes to ETFs.