Tectono Business Review: INFLOW OF CAPITAL COULD SHOOT UP PRICE OF BITCOIN TO $1 MILLION, SAYS MICHAEL SAYLOR

Tuesday 18 July 2023

INFLOW OF CAPITAL COULD SHOOT UP PRICE OF BITCOIN TO $1 MILLION, SAYS MICHAEL SAYLOR

Foremost tech mogul, Michael Saylor, has made known his optimism on Bitcoin’s future by underscoring the increasing interest from financial giants as a sign of its growing acceptance.

He accentuated the snowballing interest of outstanding financial giants, including BlackRock, Citadel, Deutsche Bank, Charles Schwab, and Fidelity, as a clear indication of a significant shift in perception.

He cited BlackRock’s application for a Bitcoin exchange-traded fund (ETF) and other similar applications from investment giants as a remarkable endorsement.

According to him, the approval of a spot ETF would mark a major milestone for institutional adoption and provide regulatory clarity.

Saylor believed that this development would enable trillions of dollars currently restricted from investing in Bitcoin due to charter or tax limitations to flow into the market through a spot ETF.

He stated it unequivocally that this influx of capital could potentially drive the price of Bitcoin to $1 million per coin.

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Tuesday 18 July 2023

INFLOW OF CAPITAL COULD SHOOT UP PRICE OF BITCOIN TO $1 MILLION, SAYS MICHAEL SAYLOR

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