“The last thing that had this effect was the creation of the S&P index and the ability to invest in all 500 companies in the index at the same time in one trade,” Michael Saylor said on Bloomberg Television.
Saylor believes that a Bitcoin ETF would provide retail and institutional investors with the necessary access to invest in Bitcoin, which was previously limited due to the lack of a sufficient channel. According to him, such exchange-traded funds would drive the demand for Bitcoin, leading to a “supply shock” that would coincide with the Bitcoin halving in April 2024. Saylor anticipates a significant growth period for Bitcoin during this time, stating, “I don’t think we’ve ever experienced a two- to ten-fold increase in demand coupled with a shortfall in supply of a sought-after asset that people want to own for an extended period of time.”
“I don’t think we’ve ever experienced a two- to ten-fold increase in demand coupled with a shortfall in supply of a sought-after asset that people want to own for an extended period of time. In short, I expect 2024 to be a major growth period for this asset.”
In the past, Saylor has made bold predictions for Bitcoin, stating that it could either plummet to zero or skyrocket to $1 million and become a “major institutional asset.” He also believes that Bitcoin exchange-traded funds would be more profitable for investors compared to Bitcoin futures ETFs. If approved, Saylor suggests that trillions of dollars would flow into cryptocurrency ETFs.