In a recent interview, Michael Saylor, the co-founder of MicroStrategy, shared his insights on what could be the next big driver for Bitcoin’s price.
Corporate Adoption
Saylor believes that January 2024 marked the start of a new era for Bitcoin, with companies beginning to adopt it. This shift is significant because it’s supported by regulatory approvals and Bitcoin’s unique position among digital assets.
SEC Approval of Bitcoin ETFs
Saylor sees the SEC’s approval of Bitcoin spot ETFs as the “first big catalyst.” This legitimizes Bitcoin for institutional investors and makes it more attractive as a corporate asset.
SEC’s Denial of Other Crypto ETFs
Saylor predicts that the next key moment will be the SEC’s denial of spot ETF applications for other cryptocurrencies. This would effectively establish Bitcoin as the dominant and unique choice, dispelling doubts about its long-term viability.
Analogy to Engineering Materials
Saylor compares the decision to invest in Bitcoin to choosing materials for a skyscraper. Once it’s clear that steel is the superior choice, the project can move forward without hesitation. Similarly, once Bitcoin is recognized as the foundational material for digital assets, corporate adoption will accelerate.
Ethereum’s ETF Prospects
The crypto community is closely watching the SEC’s decision on the VanEck spot Ethereum ETF. If approved, it could further boost Bitcoin’s position by highlighting its regulatory advantage over other cryptocurrencies.
