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Michael Saylor Assertive: 2024 Will Be The Year Of That Crypto _l Light!
Michael Saylor thinks 2024 will be the "Year of Bitcoin" ahead of the potential approval of his spot BTC ETF on Jan. 10, 2024. Along with the halving event, the launch of the spot ETF could make 2024 a significant impact in the cryptocurrency world.
Business intelligence and software company MicroStrategy** is known as the largest institutional owner of Bitcoin As Koinfinans.com reported, the company announced on Dec. 27, 2023, that it had purchased 14,620 BTC worth $615 million. With this addition, MicroStrategy's total BTC reached BTC 189,150 as of December 26, 2023.
However, MicroStrategy's identity as a leading Bitcoin holding company may change when it launches spot ETFs such as Blackrock and Fidelity. Meanwhile, MicroStrategy stock ($MSTR) could continue its winning streak in 2024 thanks to two major events, the halving and ETF approval. Over the past one year, MSTR shares have risen by a whopping 336% compared to the 172% gain of the BTC price over the same period.
With the participation of financial institutions such as Blackrock and Fidelity in the spot ETF space, it seems that the expected institutional investment may flow into the market in 2024. However, questions regarding the retail purchase of cryptocurrencies remain unanswered, as the U.S. Securities and Exchange Commission (SEC) has yet to offer clear guidance on the same.
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