💥 MicroStrategy co-founder says Bitcoin ETF could be the biggest thing to happen to traditional finance since the S&P 500 index fund.

Bitcoin investor Michael Saylor says the approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) could be the biggest development on Wall Street since the early 1990s.

“It’s not unreasonable to say this could be the biggest development on Wall Street in the last 30 years,” Saylor said in a Dec. 19 interview with Bloomberg.

“What ultimately brought this about was the creation of the S&P index and the ability to invest in all 500 S&P companies in one transaction at once.”

Saylor explained that the Bitcoin Spot ETF will open up opportunities for institutional and mainstream retail investors who previously had no access to a “high-bandwidth compliance channel” to invest in Bitcoin.

Saylor explained that the ETF will be a major catalyst for driving demand, followed by a “supply shock” in April when the Bitcoin halving event takes place.

“I don’t think we’ve ever seen a 2x to 10x increase in demand combined with having a scarce, desirable asset and supply that people want to hold for the long term.”

“So I think we expect 2024 to be a big bull run for this asset class,” Saylor said.

Saylor confirmed that MicroStrategy — his business intelligence firm and Bitcoin holding company — will continue its Bitcoin investment strategy for the foreseeable future.

“Our goal is always to seek to pursue more Bitcoin per share for our shareholders,” he explained, whether that be through no