CDS Crypto News Saylor Bitcoin Accumulation Plan Could Be In Jeopardy If ETF Approval Comes
Crypto News

Saylor Bitcoin Accumulation Plan Could Be In Jeopardy If ETF Approval Comes

Eyes turn to Saylor Bitcoin accumulation plan as ETF approval rumors grow.

304
Saylor Bitcoin Accumulation Plan Could Be In Jeopardy If Etf Approval Comes

Crypto News – A U.S. Securities and Exchange Commission clearance of Bitcoin exchange-trusted funds (ETFs) is imminent, and analysts and specialists have begun to assess MicroStrategy Chairman Michael Saylor‘s Bitcoin accumulation plan, according to Bloomberg

Saylor Bitcoin Accumulation Plan Could Be In Jeopardy If ETF Approval Comes

The SEC’s current attitude toward spot Bitcoin ETF submissions has, in fact, sparked rumors of impending approval, according to the report. The regulator’s choice to drop its legal battle against the Grayscale Bitcoin-ETF litigation triumph has also fueled these conjectures.

Many in the cryptocurrency community, therefore, believe that an ETF may receive regulatory approval in the near future. Among the excitement, the paper stated that analysts have assessed whether MicroStrategy’s Bitcoin holdings will continue to provide value for its shares.

The Company Turns to Purchasing Bitcoin Due to Decline in Sales

In fact, around the middle of 2020, when the value of the token was about to soar, Michael Saylor began to amass Bitcoin holdings. As of September 2023, Saylor had acquired more than $5.5 billion worth of Bitcoin. According to the report, Saylor felt that MicroStrategy needed to maintain less currency to protect itself from the alleged inflation threat, so he decided to buy Bitcoin. Additionally, the corporation included Bitcoin accumulation as a goal due to a decrease in sales.

The article claims that since then, the price of MicroStrategy’s shares has nearly tripled. Additionally, MicroStrategy’s 158,245 Bitcoin holdings have increased the company’s share prices, according to TD Cowen analyst Lance Vitanza. However, according to the experts, there is a big risk to the share price appreciation of the ETF if it is approved in the upcoming months.

Saylor Bitcoin Accumulation Plan Could Be In Jeopardy If Etf Approval Comes
Sources:coinedition
Written by
lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

Leave a comment

Leave a Reply

Related Articles

Sui Blockchain Faces First Major Outage: What Happened and What’s Next

Sui blockchain faces its first major outage—learn what happened, the impact on...

MicroStrategy Stock Reaches New High as Bitcoin Surges Above $98,000

MicroStrategy’s stock surged to a new all-time high as Bitcoin reached $98,000,...

Mysten Labs Resolves Sui Blockchain Outage, dApps Resume Functioning

Mysten Labs Resolves Sui Blockchain Outage, dApps Resume Functioning

Top 3 Cryptos on November 21: Qubetics Soars as Ethereum and Solana Face Resistance

Top 3 Cryptos on November 21: Qubetics Soars as Ethereum and Solana...