Bitcoin Spot ETF Biggest Development on Wall Street in Last 30 Years, Says Michael Saylor
A large increase in demand coupled with lower supply should set the stage for higher prices in 2024, he predicted.

Markets shouldn't underestimate the significance of the coming spot bitcoin (BTC) ETFs, said MicroStrategy (MSTR) Executive Chairman Michael Saylor in a Bloomberg TV appearance on Tuesday.
"It's not unreasonable to suggest that this might be the biggest development on Wall Street in 30 years," said Saylor, suggesting the last comparable new product was the SP 500 ETF, which allowed investors one-click exposure to that widely-followed index.
Mainstream investors – whether at the individual or institutional level – to date have not had a "high bandwidth" compliant channel for putting money into bitcoin, said Saylor, and that's all about to change with the spot ETF. This new vehicle, argued Saylor, is going to drive a demand shock for bitcoin which will soon be followed by a supply shock in the form of April's halving event – at which point there will be just 450 bitcoin produced each day versus the current 900.
It all adds up to a major bull run for bitcoin next year, said Saylor, though declining to speculate on how far the price may go.
Addressing the oft-asked question about whether an actual spot ETF might draw investor demand away from MicroStrategy – which is often thought of as a bitcoin ETF proxty – Saylor noted that MSTR is an operating company that can use its cash flow or "intelligent leverage" to boost its stack. He also reminded, unlike with ETFs, there is no fee to own MSTR.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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