Michael Saylor Terms 2024 “The Year of Bitcoin”

Anvesh Reddy
January 2, 2024
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Bitcoin advocate Michael Saylor said the year 2024 would be “The Year of Bitcoin” ahead of the potential approval of the spot Bitcoin ETF around January 10, 2024. Along with the Bitcoin Halving event, the launch of spot ETF could leave 2024 with a historical footprint in the crypto space.

Also Read: BTC Price On Verge Of Touching $50K Ahead Of Bitcoin ETF Approval?

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MicroStrategy BTC Accumulation In 2024

MicroStrategy, the business intelligence and software company, holds the unique distinction in the crypto space with being the largest institutional holder of Bitcoin ($BTC). Adding on to its Bitcoin bet, the company is continuing to add to its massive BTC holding. As recent as December 27, 2023, the company purchased 14,620 BTC worth $615 million, CoinGape reported. With this addition, MicroStrategy’s total Bitcoin holdings reached 189,150 BTC, as of December 26, 2023.

Wishing on the new year 2024, Saylor said,

“Welcome to 2024, The Year of Bitcoin.”

However, MicroStrategy’s pole position as the leading Bitcoin holding company could be challenged when the likes of Blackrock and Fidelity launch the spot ETFs. Meanwhile, the MicroStrategy stock ($MSTR) could continue its streak of gains in 2024 owing to the two key events, Halving and ETF approval. In the last one year, MSTR stock moved up by a massive 336%, compared to the 172% gains for BTC price during the same period.

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2024 Could Be Year Of Mainstream Crypto Adoption

Thanks to the participation of financial institutions like Blackrock and Fidelity in the spot ETF space, the flow of institutional money into crypto is highly likely in 2024. However, the questions about retail buying of cryptocurrencies still remains unanswered as the U.S. Securities and Exchange Commission (SEC) is yet to give clear guidance around the same.

This continues despite the legal setbacks in the form of XRP lawsuit defeat earlier in 2023, that cripples the SEC’s narrative that the cryptocurrencies purchased on crypto exchanges amount to be investment contracts. Yet, the spot ETF approval, which gives indirect exposure to Bitcoin for retail investors, could go into history as an important milestone for crypto industry.

Also Read: What Are Chances Of Bitcoin ETF Approval Before January 6, 2024?

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at [email protected] or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.