- MicroStrategy stocks are basically also Spot Bitcoin ETFs. CEO Michael Saylor told CNBC..
- “We’re like your non-existent spot ETFs,” Sailor said. The SEC has not yet approved the Spot Bitcoin ETF.
- MicroStrategy has spent about $ 4 billion buying Bitcoin.
In stock MicroStrategyBillions of dollars worth of enterprise software companies BitcoinBasically also serves as the first spot Bitcoin exchange-traded fund in the United States. CEO Michael Saylor told CNBC..
“We’re like your non-existent spot ETF,” CNBC said in a report released Thursday, Sailor said as a bystander at the Bitcoin 2022 conference in Miami earlier this month. I am saying.
Investors are still waiting for the Securities and Exchange Commission to shed light on numerous applications from companies trying to launch the spot. Bitcoin ETF, Track the cryptocurrency itself.Agency Approves Bitcoin Futures ETF Exposure to Bitcoin Through futures contracts that guess how Bitcoin prices will move.
MicroStrategy has been adding Bitcoin to its balance sheet since 2020, and Saylor told CNBC that it has no plans to stop it. “When we generate cash flow, I think it’s our responsibility for our shareholders to convert the devaluing currency into a highly valued asset,” Sailor said.
MicroStrategy Said in the submission to the regulatory agency This month, it is the largest publicly traded Bitcoin holder and spent about $ 4 billion buying Bitcoin with its subsidiaries. The company owns 129,218 Bitcoins purchased at an average price of $ 30,700.
Bitcoin on Thursday traded at about $ 42,590. In 2022, there was a loss of about 8% so far, but it has recovered from the lows that lowered the cryptocurrency to less than $ 36,000. Saylor, who personally owns over 17,000 Bitcoins in addition to MicroStrategy’s holdings, Told the insider This month, Bitcoin has recently struggled during a “tug of war” between macro traders, tech investors and Bitcoin’s biggestists.
MicroStrategy shares fell 16% this year, trading at around $ 453 during Thursday’s session.
In a recent Nasdaq survey Strong support for Spot Crypto ETFs It is a product among financial advisers, and 72% say they will invest in crypto if such a product is available.