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BTC Bull Sees ‘Trillions of Dollars’ Inflow, Market Close to 3T -Breaking

by Mike Robinson

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© Igor Faun BTC Bull Sees ‘Trillions of Dollars’ Inflow, Market Close to 3T
  • Bullish Buyer Michael Saylor predicts “trillions of dollars” flow in Bitcoin.
  • Cryptomarket heading toward $3 Trillion value
  • Bitcoin has recently experienced a drop in price.

Bitcoin: Could it be the next big thing? Michael Saylor is a bullish buyer of bitcoin. He believes BTC could replace ETFs that hold gold over the next 2 to 3 years. To achieve this goal, the U.S. regulator will need to approve a Bitcoin ETF.

BTC will also progress as the leading primary asset index for the Western world and will soon replace the SPDR S&P 500 ETF Trust (SPY), which is a $425B fund that tracks the equity index.

“To do that, you need the spot ETF,” said Saylor, who in fact invested his company’s capital in cryptocurrency. “And once these spot ETFs roll, I think you’ll see billions, then tens of billions, then hundreds of billions, then trillions of dollars flow into them,” the MicroStrategy CEO added as he spoke at the recent Bloomberg’s Financial Innovation Summit.

Saylor added that U.S. spot Bitcoin ETFs will serve as an institutional gateway for investors looking to gain direct exposure.

As trading began in October, two Bitcoin futures ETF funds generated a lot of media attention. ProShares Bitcoin Strategy ETF became the first ETF to enter the market. In just a few days, it had accumulated $1 billion worth of assets. The second to follow, Valkyrie’s Bitcoin Strategy ETF, had received a different response, but still with high expectations.

However, Nic Carter, co-founder of Coin Metrics and partner at Castle Island Ventures, deemed futures-based ETFs “inferior”. He believes that they don’t give any direct exposure to underlying assets. Saylor explained further:

Answer: Let investors purchase bitcoin worth a trillion dollars via an ETF. The ETFs can be plugged into existing security structures, prime brokerages and collateral packages.

The crypto market rejoices that its market capitalization has surpassed $3 trillion. BTC investor Lark Davis tweeted this joyful moment.

Bitcoin’s price has fallen from $45,000 per Bitcoin to ATHs at $67,000 in the early part of October. On the other hand, competitors like , Binance’s BNB, , , and clock in fresh highs.

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