TL; DR
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“It is quite clear that Bitcoin is the only crypto asset that will be approved for sale in the United States in the form of a spot ETF.”
These are the words we heard from MicroStrategy (MSTR) founder and executive chairman Michael Saylor during their quarterly earnings call yesterday.
That statement may ultimately be true; but it should also be taken with a large grain of salt.
Why? Did we mention that MSTR owns 214,400 BTC? That’s worth ~$13 billion USD at current prices.
But regardless of any bias, Saylor power ultimately right…
Bitcoin is the original cryptocurrency – it’s slow and inefficient, but boy is it not safe!
We know there is a lot of discussion about price fluctuations for BTC (we already literally referenced its USD value in this article), but BTCs Real unique value proposition has nothing to do with the fact that it could increase in value.
(That’s a byproduct of the actual value proposition).
BTC is unique because it is simply the oldest, most secure, storage of value that exists in crypto.
Certainly, people are trying to build smart contracts on top of the Bitcoin network and some have even proposed rollups.
But honestly, none of that matters much. Ask any Bitcoin maxi and they will tell you that BTC is like digital gold.
It is important that the world has an alternative currency to the US dollar because, as Jerome said yesterday, “inflation is still higher than expected” and that is probably due to the fact that more USD can be printed at any time .
Unlike Ethereum, Solana, or any other altcoin, Bitcoin has one main purpose: to be a digital store of value.
And on that note, Michael Saylor may be right when he says this is the only cryptospot ETF ever approved in the US.
Let’s reassess in a few years 👴