Bitcoin Max Keizer, known for his pro-government views, stated why BTC could not exceed $ 50,000 despite the approval of spot BTC ETFs, which was seen as a turning point in its short history.
According to Max Keiser, advisor to El Salvador President Nayib Bukele, the person who prevented Bitcoin from rising to the $ 50,000 level was Vanguard’s CEO. itself.
This guy got delayed #Bitcoin hitting $50,000 post-ETF’s by 2 weeks. pic.twitter.com/rVs3uIvAxd
— Max Keiser (@maxkeiser) January 15, 2024
NEWS CONTINUES BELOW
Following the launch of spot ETFs on Thursday, Vanguard said it would restrict its clients from purchasing new crypto products.
Mortimer J. Buckley, who gave an interview after this decision was announced, stated that the company is against its customers trading not only with Bitcoin-backed ETFs but also with gold-based exchange-traded funds. According to Buckley, the benchmark crypto lacks real economic value and does not generate any cash flows.
Vanguard’s hostility contrasts with the adoption of spot Bitcoin ETFs by some of the investment giant’s major rivals, including BlackRock, Fidelity and Invesco, which have created their own BTC ETFs that began trading last week. Experts believe that spot ETFs will significantly expand the investor base for BTC, as buying ETFs is much easier than buying the cryptocurrency itself.
Meanwhile, although Vanguard excludes spot Bitcoin ETFs, the asset manager still has significant exposure to the dominant crypto as it owns a large stake in MicroStrategy (MSTR), the largest institutional holder of BTC. Data shows Vanguard owned more than 1.125 million MSTR shares as of September 2023, making it the second-largest institutional shareholder in the company founded by Michael Saylor, with an ownership of 8.24%.