Michael Saylor says 2024 ahead of potential approval of spot BTC ETF around January 10, 2024Bitcoin It will be the year of thinks. Along with the halving event, the launch of spot ETF could make 2024 a significant impact on the cryptocurrency world.
Business intelligence and software company MicroStrategy, is known as the largest institutional owner of Bitcoin. As we reported as Koinfinans.com, the company announced that it purchased 14,620 BTC worth $615 million on December 27, 2023. With this addition, MicroStrategy’s total BTC holdings reached 189,150 BTC as of December 26, 2023.
Welcome to 2024, The Year of #Bitcoin. pic.twitter.com/wHCyH8RHJa
— Michael Saylor⚡️ (@saylor) January 1, 2024
NEWS CONTINUES BELOW
However, MicroStrategy’s identity as a leading Bitcoin holding company may change when the likes of Blackrock and Fidelity launch spot ETFs. Meanwhile, MicroStrategy stock ($MSTR) could continue its winning streak in 2024 thanks to two major events: Halving and ETF approval. Over the past year, MSTR shares have gained a whopping 336%, compared to a 172% gain for the BTC price over the same period.
It seems that the expected institutional investment may flow into the market in 2024, thanks to the participation of financial institutions such as Blackrock and Fidelity in the spot ETF field. However, questions regarding retail purchase of cryptocurrencies still remain unanswered as the US Securities and Exchange Commission (SEC) is yet to provide clear guidance on the same.