- Natalie Brunell and Michael Saylor believe Bitcoin will be the standout asset of 2024.
- Factors to catalyze Bitcoin’s anticipated success include Bitcoin spot ETF and halving.
- Brunell sees the spot Bitcoin ETF replicating the landmark success witnessed in the inception of the S&P 500 ETF.
In a recent interview with Fox Business News, Natalie Brunell of Coin Stories Podcast argued the prospects of Bitcoin becoming the standout asset of 2024, a view the billionaire Bitcoin investor Michael Saylor of MicroStrategy consented to.
The conversation opened with concerns about the recent pullback in the crypto market. Brunell characterized it as a healthy pullback. In parallel, she highlighted Bitcoin’s impressive performance, noting it has surged 60% in the last three months and over 150% throughout 2023.
Regarding factors to catalyze Bitcoin’s anticipated success in 2024, she cited the “imminent” approval of a spot Bitcoin exchange-traded fund (ETF). Brunell stressed that regulatory bodies and issuers have been actively engaged in Bitcoin-related discussions.
In particular, she cited that the U.S. Securities and Exchange Commission (SEC) is collaborating with over a dozen companies to streamline guidance and disclosure documents for spot Bitcoin ETFs.
As a result, Brunell remarked: “The wheels of government and Wall Street are focusing on delivering Bitcoin to the masses.” Besides, she asserted that the spot Bitcoin ETF will attract substantial capital flows into the cryptocurrency market once approved.
When asked about the potential for the spot Bitcoin ETF to be a landmark development in the financial space, Brunell drew parallels with the launch of the S&P 500 ETF. Citing Michael Saylor, chairman of MicroStrategy, she noted that the S&P 500 ETF was the most significant development on Wall Street in the past three decades.
In parallel, she argued that the spot Bitcoin ETF could be a landmark moment akin to the inception of the S&P 500 ETF. Moreover, Brunell pointed to the upcoming Bitcoin halving event expected around April as another positive factor for Bitcoin in 2024.
The podcast host highlighted that the issuance of new bitcoins will decrease from 900 to 450 coins per day following the halving. This projected reduction in Bitcoin supply is expected to create a scarcity factor around the digital asset.
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Source: https://coinedition.com/can-bitcoin-etf-replicate-wall-street-sp-500s-landmark-success/