{"id":11382,"date":"2024-03-07T12:49:12","date_gmt":"2024-03-07T10:49:12","guid":{"rendered":"https:\/\/forklog.com\/en\/michael-saylor-spot-bitcoin-etfs-to-surpass-gold-based-funds\/"},"modified":"2024-03-07T12:49:12","modified_gmt":"2024-03-07T10:49:12","slug":"michael-saylor-spot-bitcoin-etfs-to-surpass-gold-based-funds","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/michael-saylor-spot-bitcoin-etfs-to-surpass-gold-based-funds\/","title":{"rendered":"Michael Saylor: Spot Bitcoin ETFs to Surpass Gold-Based Funds"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>This summer, Bitcoin ETFs will surpass gold-based funds in asset volume.<\/li>\n<li>BlackRock&#8217;s IBIT set a new record for daily inflow and trading volume.<\/li>\n<li>The combined turnover of the products exceeded that of Microsoft shares.<\/li>\n<\/ul>\n<\/div>\n<p>Gold ETFs remain the largest in the exchange-traded commodities category but will soon be overtaken by their counterparts based on the first cryptocurrency, according to MicroStrategy founder Michael Saylor.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Michael Saylor: <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> &#8216;Gold Rush&#8217; 2024-2034: The era of mass adoption is here.<\/p>\n<p>I had the chance to sit down with <a href=\"https:\/\/twitter.com\/saylor?ref_src=twsrc%5Etfw\">@Saylor<\/a> to discuss the success of the spot Bitcoin ETFs, why our money is toxic, the ideal form of government, building companies on the network and why Bitcoin is\u2026 <a href=\"https:\/\/t.co\/6FPt95hhsG\">pic.twitter.com\/6FPt95hhsG<\/a><\/p>\n<p>\u2014 Natalie Brunell \u26a1\ufe0f (@natbrunell) <a href=\"https:\/\/twitter.com\/natbrunell\/status\/1765328439551099315?ref_src=twsrc%5Etfw\">March 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the Bitcoin maximalist, digital gold-based products are beginning to compete with the largest exchange-traded funds. The MicroStrategy founder acknowledged that ETFs have exceeded his expectations in terms of inflows and trading volumes.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;We thought the first cryptocurrency was a competitor to gold. In reality, it has risen in the rankings and is nipping at the heels of the S&#038;P 500 index-based instrument,&#8221;<\/em> he shared.<\/p>\n<\/blockquote>\n<p>According to BitMEX, since the <a href=\"https:\/\/u1f987.com\/en\/news\/sec-approves-all-11-spot-bitcoin-etf-applications\">launch on January 11<\/a>, net inflow into spot Bitcoin ETFs has reached $8.9 billion. BlackRock&#8217;s IBIT and Fidelity&#8217;s FBTC have entered the top 20 most actively traded exchange-traded funds.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">[3\/4] Total net flow since 11th Jan 2024 is now $8,895.6 million. <a href=\"https:\/\/t.co\/61VmMD9vqc\">pic.twitter.com\/61VmMD9vqc<\/a><\/p>\n<p>\u2014 BitMEX Research (@BitMEXResearch) <a href=\"https:\/\/twitter.com\/BitMEXResearch\/status\/1765630525195121034?ref_src=twsrc%5Etfw\">March 7, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to <a href=\"https:\/\/sosovalue.xyz\/assets\/etf\">SoSovalue<\/a>, on March 5, the total trading volume of the instruments exceeded $10.4 billion. For comparison, the figure for Microsoft shares<a href=\"https:\/\/finance.yahoo.com\/quote\/MSFT?.tsrc=fin-srch\"> was $8.9 billion<\/a>. According to the latest data, the <span data-descr=\"assets under management\" class=\"old_tooltip\">AUM<\/span> of the funds reached $53.11 billion.<\/p>\n<h2 class=\"wp-block-heading\"><strong>IBIT Records<\/strong><\/h2>\n<p>On March 5, net inflow into IBIT set a new record of $788.3 million. This was made possible by Bitcoin reaching a new all-time high. The previous record was $603.9 million.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-735.webp\" alt=\"2-735\" class=\"wp-image-227672\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/www.theblock.co\/post\/280792\/blackrock-ibit-spot-bitcoin-etf-record-daily-inflow\">The Block<\/a>.<\/figcaption><\/figure>\n<p>In terms of trading volume, IBIT also recorded a record $3.76 billion. The figures for Grayscale&#8217;s GBTC and Fidelity&#8217;s FBTC were $2.85 billion and $2.05 billion, respectively.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/3-433.webp\" alt=\"3-433\" class=\"wp-image-227673\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/www.theblock.co\/post\/280792\/blackrock-ibit-spot-bitcoin-etf-record-daily-inflow\">The Block<\/a>.<\/figcaption><\/figure>\n<p><strong>When Will Saylor&#8217;s Prediction Come True?<\/strong><\/p>\n<p>According to Bloomberg analyst Eric Balchunas, Saylor&#8217;s prediction could come true this summer. This will happen if the current monthly inflow rate of $10 billion is maintained.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">If they keep up this pace and add $10b a month (which is pretty insane but very poss if btc price complies) they will pass gold ETFs this summer<\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1765025445672538516?ref_src=twsrc%5Etfw\">March 5, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;It&#8217;s a bit crazy, but quite possible given Bitcoin&#8217;s dynamics,&#8221;<\/em> the specialist explained.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\"><strong>ETFs as a Universal API<\/strong><\/h2>\n<p>Saylor described ETFs as a &#8220;universal <a href=\"https:\/\/ru.wikipedia.org\/wiki\/API\" title=\"\">API<\/a>&#8221; that allows investors to access the first cryptocurrency through easy entry and exit from various funds.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;It is also a global protocol for trading volatility or obtaining loans,&#8221;<\/em> he noted.<\/p>\n<\/blockquote>\n<p>According to the expert, before the advent of ETFs, obtaining a loan secured by Bitcoin required time and involved a much higher interest rate. Now there is an opportunity to use exchange-traded fund shares as a down payment on a mortgage.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;ETFs have opened up a whole financial world of awareness, opportunities, and functionality for 99% of mainstream investors. You cannot underestimate how important this is for the entire network,&#8221;<\/em> he explained.<\/p>\n<\/blockquote>\n<p>According to <a href=\"https:\/\/bitcointreasuries.net\/\">BitcoinTreasuries<\/a>, MicroStrategy holds 193,000 BTC worth $12.9 billion. Unrealized profit has reached $6.8 billion.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/4-276.webp\" alt=\"4-276\" class=\"wp-image-227674\"\/><figcaption class=\"wp-element-caption\">Data: BitcoinTreasuries.<\/figcaption><\/figure>\n<p>On February 26, the company increased its holdings by<a href=\"https:\/\/u1f987.com\/en\/news\/microstrategy-acquires-3000-btc-for-155-million\"> 3,000 BTC<\/a>. In the same month, the firm reported a January purchase of <a href=\"https:\/\/u1f987.com\/en\/news\/microstrategy-expands-bitcoin-holdings-to-190000-btc\">850 BTC for $37.2 million<\/a>.<\/p>\n<p>Earlier, its founder Michael Saylor stated that in the near and long term, MicroStrategy<a href=\"https:\/\/u1f987.com\/en\/news\/michael-saylor-rules-out-bitcoin-sales-from-microstrategys-holdings\"> does not intend to sell<\/a> its digital gold reserves.<\/p>\n<p>The firm <a href=\"https:\/\/u1f987.com\/en\/news\/microstrategy-shifts-focus-to-bitcoin-development\">intends to refocus<\/a> as a &#8220;Bitcoin and Bitcoin-based product development company.&#8221; Since its inception, it has focused on creating and supporting analytical software.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This summer, Bitcoin ETFs will surpass gold-based funds in asset volume. BlackRock&#8217;s IBIT set a new record for daily inflow and trading volume. The combined turnover of the products exceeded that of Microsoft shares. Gold ETFs remain the largest in the exchange-traded commodities category but will soon be overtaken by their counterparts based on the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11381,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,569,1208,1150,1138],"class_list":["post-11382","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-etf","tag-michael-saylor","tag-news-plus","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=11382"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11382\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/11381"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=11382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=11382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=11382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}