#MicroStrategy CEO Michael Saylor recently made a bold assertion at the Madeira Bitcoin conference, stating that #Bitcoin ETFs are poised to become serious competitors to traditional investment vehicles like S&P 500 Index ETFs.
Saylor's comments come amidst the growing popularity of Bitcoin ETFs, with recent launches from BlackRock and Fidelity exceeding expectations.
"We thought Bitcoin could rival gold, but it actually moved up the leaderboard and is now starting to squeeze the S&P 500 Index ETFs," Saylor remarked in an interview at the conference.
Bitcoin ETFs have experienced significant growth, collectively garnering net inflows of $8.5 billion since their launch less than two months ago, despite substantial outflows from the converted Grayscale Bitcoin Trust during the same period.
Furthermore, #michaelsaylor highlighted the broader financial implications of Bitcoin ETFs, suggesting that they open new avenues for investors, such as using ETF shares as collateral for loans through traditional brokerage firms like JP Morgan or Merrill Lynch.
