BTC Spot ETF Launch Increases Volatility, Says Michael Saylor
CryptoNewsTerminal Staff09 Sep, 2024
BTC Spot ETF Launch Increases Volatility, Says Michael Saylor
Michael Saylor, the founder of MicroStrategy, recently stated that the price of Bitcoin (BTC) has increased by an average of 44% per year since his company invested in the cryptocurrency. This compares favorably to the S&P 500's average annual gain of 12% over the same period. Saylor believes that the launch of BTC spot ETFs has increased demand for the cryptocurrency while also increasing volatility. He notes that there have been recent outflows from spot ETFs, but he attributes this to the fact that BTC is a "smart, fast, and hard" money. Saylor remains bullish on BTC and believes that it has the potential to continue to outperform the traditional financial markets. He is also encouraged by the growing institutional adoption of BTC, which he believes will help to legitimize the cryptocurrency.
