Fun

News Feed - 2023-08-03 01:08:49

Martin Young4 hours agoMicroStrategy to stay on Bitcoin course even if spot ETFs approved: SaylorMichael Saylor compared his firm to a “sportscar,” whereas a spot ETF will be like a “supertanker” when it comes to giving investors Bitcoin exposure.3423 Total views60 Total sharesListen to article 0:00NewsJoin us on social networksMicroStrategy co-founder Michael Saylor believes his firm will remain an enticing way for investors to gain exposure to Bitcoin (BTC) regardless of any future exchange-traded fund approvals.


He has also confirmed his firm’s intention to continue adding more Bitcoin to its balance sheet, including with the potential proceeds of a planned $750 million share sale.


Speaking to Bloomberg on Aug. 2 on how an approved spot Bitcoin ETF could impact his firm’s offering, Michael Saylor was confident MicroStrategy would still be able to offer something spot Bitcoin ETFs can"t.Consider a #Bitcoin Strategy. pic.twitter.com/MJcGxiVHop— Michael Saylor⚡️ (@saylor) August 2, 2023


He made similar comments during the Aug. 1 earnings call, saying that MicroStrategy will still be “differentiated as a particular Bitcoin operating strategy” when spot ETFs arrive.


Bitcoin is up 145% since the company started its purchasing strategy in August 2020, he said, adding that his firm uses leveraged investments to generate yields that are passed to shareholders.“We can tap into leverage because we’re an operating company, which an ETF couldn"t do so we view it as being beneficial to the entire ecosystem.”


On the other hand, Saylor said spot Bitcoin ETFs would allow large hedge funds and sovereigns to come into the space with billions of dollars.“We are a unique instrument, we are the sportscar whereas the spot ETF is going to be the supertanker.”


“Spot ETFs will serve another set of customers in a synergistic fashion to grow the entire asset class,” he added at the earnings call.


The firm has more than 470 institutional shareholders, according to Fintel, and a market capitalization of $5.3 billion.


Related:MicroStrategy returns to profit and now owns $4.4B worth of Bitcoin


On Aug. 2, analysts raised spot Bitcoin ETF approval chances in the United States to 65%.


Saylor confirmed the goal is to “accumulate as much Bitcoin as we can,” when asked how much their existing holdings of 152,800 BTC will increase in the quarters to come.


He also confirmed that the company intends to sell up to $750 million in class A common stock as per a recent SEC filing, adding that the primary use of proceeds “generally is just to acquire Bitcoin.”


Collect this article as an NFTto preserve this moment in history and show your support for independent journalism in the crypto space.


Magazine: Deposit risk: What do crypto exchanges really do with your money?# Bitcoin# ETF# MicroStrategyAdd reactionAdd reactionRelated NewsWhat is profit and loss (PnL) and how to calculate itThe last Bitcoin: What will happen once all BTC are mined?Crypto trader weighs in on possible Bitcoin extinction scenariosGrayscale urges SEC to approve all Bitcoin ETFs simultaneouslyCrypto community reacts to Barbie star saying Bitcoin talk exudes Ken energyMicroStrategy returns to profit and now owns $4.4B worth of Bitcoin

News Feed

JP Morgan Sees Millennials’ Bitcoin Preference Over Gold as Foundation for Its Long Term Success
JP Morgan Sees Millennials" Bitcoin Preference Over Gold as Foundation for Its Long Term Success JP Morgan says bitcoin’s 2020 surge is set to continue as
Litecoin’s Hashrate Reaches All-Time High, Difficulty Follows Suit
Litecoin"s Hashrate Reaches All-Time High, Difficulty Follows Suit The blockchain network Litecoin’s computational power reached an all-time high (ATH) on Wednesday, Jan. 25
‘The Fed Is Trapped’- Erratic Bond Markets, Exhausted Supplies, Analyst Says Tsunami of Treasury Issuances Underway
‘The Fed Is Trapped’- Erratic Bond Markets, Exhausted Supplies, Analyst Says Tsunami of Treasury Issuances Underway The U.S. Federal Reserve is in a predicam
Samsung SDS Pilots Blockchain-Based Medical Insurance Network
Samsung SDS, an IT solution developer partially owned by the South Korean tech conglomerate, is expecting to roll out a blockchain-based medical claims processing system this month.
Turner Wright2 hours agoTrademark attorney predicts legal fights ahead with Twitter’s rebrand to XAccording to Josh Gerben, the social media platform could be embroiled in lawsuits over its “X” branding for years,
Low Bitcoin and Ethereum fees may not necessarily be good news
Robert D. Knight10 hours agoLow Bitcoin and Ethereum fees may not necessarily be good newsBitcoin and Ethereum users are experiencing exceptionally low fees, but why?960 Total views3 Total sharesListen to article 0:00Fol
EU Makes Deal on MiCA Legislation to Regulate Crypto Markets
EU Makes Deal on MiCA Legislation to Regulate Crypto Markets Representatives of key European Union (EU) institutions and member states reached an agreement on the Markets in Crypto
Ray Salmond7 hours agoWhen will it be too late to invest in Bitcoin?This week’s episode of Market Talks discusses whether it will ever be “too late” to buy Bitcoin and why BTC could take over the financial world.72
Losses from crypto hacks plunge 67% in April to $60 million
Zoltan Vardai11 hours agoLosses from crypto hacks plunge 67% in April to $60 millionThe amount stolen through crypto hacks, along with the number of successful attacks, has seen a sharp decline in April.2041 Total views4
EU Regulator Warns Soaring Inflation Could Drive Investors to Crypto — Calls for Unified Regulatory Framework
EU Regulator Warns Soaring Inflation Could Drive Investors to Crypto — Calls for Unified Regulatory Framework Europe’s top securities regulator has warned that soaring inf
‘Bird Beak Sign’ Appears On Bitcoin Price Heikin Ashi Chart, Analyst Explain What This Means
Este artículo también está disponible en español. The Bitcoin price may be on the verge of hitting new all-time highsas a crypto analyst has unveiled the emergence of a n
Blackbird Labs launches Web3 platform for restaurant payments
Alex O’Donnell4 hours agoBlackbird Labs launches Web3 platform for restaurant paymentsBlackbird Pay is built on the company"s new blockchain network, Blackbird Flynet.883 Total views7 Total sharesListen to article 0:00