MicroStrategy Founder Michael Saylor: “Bitcoin Will Continue Its Bull Run in 2024”

Michael Saylor, former CEO and co-founder of MicroStrategy, predicts that there may be a significant increase in the value of Bitcoin in 2024.

Saylor predicts that the approval of the Spot Bitcoin ETF could herald the most significant financial event on Wall Street in the last three decades.

In a recent interview, Saylor emphasized the important role Spot ETF approval could play in Bitcoin’s trajectory. Highlighting the potential impact of this development, he drew parallels with the creation of the S&P index, which revolutionized investment access into 500 S&P companies in a single transaction.

Saylor also outlined near-term catalysts that could send Bitcoin’s value soaring. He noted that despite current market participation dominated by long-term holders and traditional cryptocurrency investors, mainstream retail and institutional investors lack a seamless way to invest in Bitcoin.

According to Saylor, the approval of Spot ETFs in January 2024 will lead to a significant demand shock. Following this fluctuation, a supply shock will occur in April and the daily amount of sellable Bitcoin will decrease by half.

Regarding the predicted bull rally, Saylor expressed his prediction of increased demand coupled with decreasing supply for BTC, which he describes as a rare and sought-after asset, which could potentially lead to a significant increase in Bitcoin’s value, according to Saylor.

Saylor also touched on MicroStrategy’s distinct position in the market. While ETFs offer a fee-based, leverage-free investment vehicle, MicroStrategy operates as a business company with the ability to generate additional Bitcoin through its operations and smart leverage strategies, according to Saylor. Saylor likened ETFs to efficient shipping lines, while MicroStrategy is like a high-performance vehicle that offers leverage without charging fees, he said.

When asked about MicroStrategy’s approach to acquiring Bitcoin in light of expected market volatility, Saylor reiterated the company’s commitment to continue accumulating Bitcoin using a variety of tools that benefit shareholders and take advantage of market volatility.

*This is not investment advice.