bitcoin-news/microstrategy-bitcoin-strategy-spot-etfs/#:~:text=MicroStrategy’s%20Michael%20Saylor%20Says%20Spot%20ETF%20Approvals%20Have%20No%20Bearing%20On%20Bitcoin%20Strategy,-by%20Scott%20Matherson&text=MicroStrategy%20co%2Dfounder%20and%20former,the%20company’s%20%E2%80%9CBitcoin%20Strategy.%E2%80%9D” rel=”nofollow noopener” target=”_blank”>Michael Taylor bet on the flagship cryptocurrency, bitcoin, not only bitcoin-news/microstrategy-bitcoin-strategy-spot-etfs/#:~:text=MicroStrategy’s%20Michael%20Saylor%20Says%20Spot%20ETF%20Approvals%20Have%20No%20Bearing%20On%20Bitcoin%20Strategy,-by%20Scott%20Matherson&text=MicroStrategy%20co%2Dfounder%20and%20former,the%20company’s%20%E2%80%9CBitcoin%20Strategy.%E2%80%9D” rel=”nofollow noopener” target=”_blank”>benefited your company since the company's investors are also much richer thanks to the co-founder's big bet. These investors happen to be some of the biggest winners in the financial market thanks to the success of MicroStrategy this year.
MicroStrategy Investors See Over 300% Gain
A recent bitcoin-bet-produces-300percent-gain-for-investors-in-2023.html?taid=658ad8afca93ff0001d40386&utm_campaign=trueanthem&utm_medium=social&utm_source=twitter%7Cmain” rel=”nofollow noopener” target=”_blank”>report CNBC highlighted how MicroStrategy investors have made a profit of more than 300% thanks to the company bitcoin/can-bitcoin-price-climb-to-47000-heres-what-this-crypto-analyst-thinks/” rel=”nofollow noopener” target=”_blank”>bitcoin bet. These gains come from the exponential rise in the software company's stock. The company's shares are up 326% year to date (YTD), according to data from MarketWatch.
This success has been attributed to MicroStrategy's 'bitcoin Strategy', spearheaded by its co-founder Michael Saylor. MicroStrategy is among the biggest winners this year and the company has even surpassed major companies like Meta and Nvidia.
The over 300% gain that MicroStrategy investors enjoyed is even more impressive when compared to what bitcoin itself has generated. bitcoin/bitcoin-millionaires-246-2023/” rel=”nofollow noopener” target=”_blank”>your investors this year. The flagship cryptocurrency is up approximately 157% year to date, and this figure also represents the profit made by bitcoin investors so far this year.
Much credit must be given to MicroStrategy co-founder Michael Saylor, who has continued bitcoin/michael-saylor-bitcoin-1-million/?noamp=mobile” rel=”nofollow noopener” target=”_blank”>believe in pioneering cryptocurrency even during the peak of the bear market. This bitcoin strategy, which was implemented in 2020 when the company began bitcoin/microstrategy-bitcoin-strategy/#:~:text=MicroStrategy%20Acquired%20An%20Additional%20155,third%2Dquarter%202023%20financial%20results.” rel=”nofollow noopener” target=”_blank”>accumulate btcIt has evidently brought immense success to the company.
The company has grown from just a software company to one that offers an avenue for investors to gain exposure to bitcoin. Many, especially institutional investors, who cannot invest directly in bitcoin continue to view the company's shares as an alternative way to invest in the flagship cryptocurrency.
<img decoding="async" class="aligncenter" src="https://technicalterrence.com/wp-content/uploads/2023/12/Cryptocurrency-Trading-Firm-Expects-Bitcoin-to-Fall-to-36000-Here39s" alt="bitcoin Price Chart from Tradingview.com (MicroStrategy)” width=”3266″ height=”1530″/>
btc begins another recovery | Source: BTCUSD on Tradingview.com
Will bitcoin Spot ETFs Affect MicroStagy's bitcoin Strategy?
bitcoin Spot ETF bitcoin/bloomberg-spot-bitcoin-etf/#:~:text=Bloomberg%20Analyst%20Predicts%20Likelihood%20Of%20A%20Spot%20Bitcoin%20ETF%20By%20January%202024,-by%20Scott%20Matherson&text=Following%20notable%20changes%20to%20the,as%20early%20as%20next%20year” rel=”nofollow noopener” target=”_blank”>could potentially be approved already in January and this could be a concern for MicroStrategy, considering that some of its investors who invested in its shares just to get exposure to bitcoin bitcoin/institutional-investors-spot-etf/” rel=”nofollow noopener” target=”_blank”>could move your capital to these funds. On the other hand, this development could also be beneficial for the software company.
bitcoin Spot ETF Approval It is projected to cause a significant increase in the price of bitcoin, which also means more profits for Saylor and his company. The company also has one on these spot ETFs, as you can put your btc holdings to work. As such, these ETFs are unlikely to have that much of an impact on MicroStrategy's future success.
Saylor himself had bitcoin-news/microstrategy-bitcoin-strategy-spot-etfs/” rel=”nofollow noopener” target=”_blank”>commented above in this regard, since he stated that bitcoin/95-bitcoin-spot-etf-january/” rel=”nofollow noopener” target=”_blank”>approval of these bitcoin Spot ETFs It has nothing to do with your bitcoin strategy. He further said that his company has a unique bitcoin offering, which these ETFs cannot emulate. The co-founder of MicroStrategy also bitcoin/michael-saylor-bitcoin-1-million/?noamp=mobile” rel=”nofollow noopener” target=”_blank”>recently highlighted These btc Spot ETFs are bullish for bitcoin heading into 2024.
Featured image from MicroStrategy, chart from Tradingview.com
