TL;DR
Full Story
“It’s fairly clear that Bitcoin is the one crypto asset that’s going to be accepted on the market within the type of a spot ETF in the USA.”
They’re the phrases we heard from MicroStrategy (MSTR) founder and Government Chairman, Michael Saylor, yesterday throughout their quarterly earnings name.
That assertion could find yourself being true; but it surely additionally must be taken with an enormous ol’ grain of salt.
Why? Effectively, did we point out that MSTR holds 214,400 BTC? That’s ~$13B USD value at at the moment’s costs.
However no matter any bag-bias, Saylor would possibly find yourself being right…
Bitcoin is the unique cryptocurrency – it’s gradual and inefficient, however boy if it ain’t safe!
We all know there’s a variety of dialogue about value fluctuations for BTC (heck, we’ve actually referred to it’s worth in USD on this article already) however BTC’s actual distinctive worth proposition is nothing to do with the truth that it might go up in worth.
(That’s a bi-product of it’s precise worth proposition).
BTC is exclusive as a result of it’s merely the oldest, most safe, retailer of worth that exists in crypto.
Certain, individuals are making an attempt to construct good contracts on prime of the Bitcoin community and a few have even proposed rollups.
However actually, none of that actually issues. Ask any Bitcoin maxi and they’re going to let you know that BTC is like digital gold.
It’s necessary for the world to have various currencies to the US greenback as a result of, as Jerome mentioned yesterday, “inflation remains to be hotter than anticipated” and that’s most likely to do with the truth that extra USD could be printed at any time.
Not like Ethereum, Solana, or another altcoin, Bitcoin has one primary goal: to be a digital retailer of worth.
And to that finish, Michael Saylor would possibly simply be proper about it being the one crypto spot ETF ever accepted within the US.
Let’s reassess in just a few years 👴
.png?format=1500w&description=Will%20There%20Ever%20Be%20Other%20Crypto%20Spot%20ETFs%20in%20the%20US%3F){kind=link}