Michael Saylor: ETF Approvals Strenghtened Bitcoin’s Size as an Asset Class

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According to MicroStrategy Chairman Michael Saylor, the approval of Bitcoin ETFs in January was a significant event that solidified the size and importance of Bitcoin as an asset class.

Saylor made these comments on the What Bitcoin Did podcast, stating that the approval of spot Bitcoin ETFs marked a crucial milestone for Bitcoin, elevating it from a multi-billion dollar asset class to a potential ten to hundred trillion dollar asset class.

However, despite his appreciation for the ETF approvals, Saylor also criticized the US Securities and Exchange Commission (SEC) for its approach towards cryptocurrency in general.

He described the SEC as obstructionist and at odds with the entire crypto industry, citing their lawsuits against exchanges and entrepreneurs.

Saylor also pointed out that the SEC’s minimalistic embrace of Bitcoin was evident through their delays in approving options trading for the ETFs and their restriction of cash creates instead of in-kind redemptions.