Co-founder of MicroStrategy has reiterated his belief that his company will remain attractive to investors interested in Bitcoin.
In an interview with Bloomberg, Michael Saylor, co-founder of MicroStrategy, reiterated his confidence that his company will continue to be an attractive option for investors seeking exposure to Bitcoin.
He also emphasized that MicroStrategy will remain “differentiated as a particular Bitcoin operating strategy,” even with the advent of spot ETFs.
The bitcoin price has risen 145% since the firm began its buyout strategy in August 2020, he said, adding that his firm uses leveraged investing to generate returns that are passed on to shareholders.
“We are able to take advantage of the leverage because we are an operating company, something that an ETF couldn’t do, so we see it as beneficial to the entire ecosystem.”
On the other hand, Saylor said that spot bitcoin ETFs would allow large hedge funds and sovereigns to enter the space with billions of dollars. “We are a unique instrument; we are the sports car, while the spot ETF is going to be the supertanker.”
“Spot ETFs will serve another set of clients synergistically to grow the entire asset class,” he added in the earnings report.
On August 2, analysts raised the odds of approval for the spot bitcoin ETF in the United States to 65%. Saylor confirmed that the goal is to “accumulate as much BTC as we can” when asked how much his current holdings of 152,800 BTC will increase in the coming quarters.
He also confirmed that the company intends to sell up to $750 million worth of Class A common shares, according to a recent SEC filing, adding that the primary use of the proceeds “generally is just to acquire bitcoin.”
Goldman Sachs Predicts AI Will Overtake the Financial Impact of Electricity and Personal Computers on the US Economy
According to Goldman Sachs economists, AI could have a financial impact. Even bigger in the US economy than electricity and personal computers.
In a recently published investment report, economists Joseph Briggs and Devesh Kodnani forecast that AI could attract up to $200 billion in global investment by 2025, with about half of that going to the United States. This will significantly boost the US gross domestic product.
In the past, technological advances like electricity and personal computers fueled GDP growth of around 2%. Economists at Goldman Sachs estimate that AI could account for as much as 4% of GDP in the United States, as well as 2.5% in other countries that have already begun to invest considerably in this technology.
Worldcoin, the Cryptocurrency from the Creator of OpenAI, Will Open Its Security Technology to Other Organizations
Worldcoin, the cryptocurrency founded by Sam Altman, creator of OpenAI, has ambitious plans to expand globally. According to project leaders interviewed by Reuters, Worldcoin will allow other companies and governments to access and use its advanced iris scanning and identity verification technology.
Currently, to obtain a digital ID on Worldcoin, users must provide iris scans. Additionally, the cryptocurrency has been giving away tokens to those who undergo the scanning process. This unique method has been implemented at registration sites around the world, where people have been scanning their irises using a glowing spherical orb.
By Audy Castaneda
