CRYPTO MARKET COMMENTARY FROM MICROSTRATEGY
Michael Saylor, the man behind MicroStrategy, began accumulating Bitcoin before the previous bull market began. Later, as he profited from this, he began to make statements that would make him forget his previous statements. Saylor continued to buy Bitcoin during the hardest days of the bear markets, putting his company in debt.
The biggest Bitcoin bull with his huge savings, he turned his company into a surrogate Bitcoin ETF before official BTC ETF approvals came. Thanks to billions of dollars of BTC in reserve, people were buying MSTR shares, thus owning a kind of ETF that tracks the performance of Bitcoin through the traditional stock market channel, in a safe way.
Here we should take a look at the comments of a great Bitcoin maximalist (or money-making addict?) like Saylor about the spot Ether ETF. MicroStrategy's founder, Michael Saylor, changed his mind about spot Ether exchange-traded funds and said;
“Is this good for Bitcoin or not? Yes, I think it's good for Bitcoin, in fact I think it could be better for Bitcoin because I think we're much more strongly supported politically by the entire crypto industry. “I think mainstream investors will now say there is a crypto asset class, maybe we will allocate 5% or 10% to the crypto asset class, but Bitcoin will be 60% or 70% of that.”
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