💥💥💥 Michael Saylor: BlackRock, Citadel, & Fidelity Will Send #Bitcoin  to $1,000,000 🚀

“It looks like a spot ETF will probably get approved. There’s massive political pressure to approve one. The circumstances have changed & now there’s a way for the SEC to approve it without backtracking on its previous legal & policy guidance.

Certainly there are a lot of Wall Street entities that have a vested interest in seeing this happen. If you’re an institution, one way to get #BTC  exposure is to buy the underlying asset but there have been challenges with finding the right exchange to buy it on & custody arrangement, so a simpler way to do it is buy the spot ETF.

There are trillions of dollars in capital that is required to invest in a security that trades in these compliant forums & is understating the obvious. There’s tens of trillions of dollars. So there’s a lot of capital that can’t buy the Bitcoin or self custody the Bitcoin. They don’t want to do charter, maybe it’s against the tax code, maybe when they raise $10 billion from public investors, they raised it to invest in securities but not interested in property or commodities.

So the spot ETF availability is a major milestone for institutional adoption. The approval of a spot ETF is a major milestone in regulatory clarity which is tantamount to an endorsement. The engagement of Fidelity, Citadel, BlackRock & Schwab, I mean Schwab is synonymous with Wall Street, 100 years of Wall Street. So what you have is Wall Street coming together to offer securities & exchange services & indirectly custody services for mainstream investors & if we look out about 12 months & If I was saying…

What are the key milestones that drive mainstream adoption of Bitcoin? Well, one of them clear is a spot ETF. The second is a designation that Bitcoin is an asset class. The recognition of it as a legitimate commodity, it’s a big deal. When Jerome Powell says it’s not going away, when Gensler & the head of the SEC & CFTC both say it’s a digital commodity. Digital commodity might not sound like much but when you go down to the next round like is it a Ponzi scheme or its a scam or its tulip bulbs. The difference between tulip bulbs & digital commodity is a zero versus a one.

I have said before and I will repeat it again. If it’s not going to zero, it’s going to a million. It’s either nothing & if its nothing then its getting scrubbed out & banned & of course we now know it’s not getting banned. There’s no way that Fidelity, Citadel, BlackRock, Charles Schawb, Deutsche Bank, Credit Agricole, Banco Santander all decide they’re interested in this, they’re not endorsing a tulip bulb, right? Once you go from zero to the one, then the question is, well its an asset class & if it’s not going away what is it worth? Well it’s worth 1% of the assets in the world so 1% drives it up by a factor of 10-20.”

- Michael Saylor ⛵