Trillion Dollars to Enter Bitcoin (BTC) Funds
- Entire crypto industry grows profusely.
- BTC, ETH, ADA, BNB, XRP are some of the prominent surgers for last month.
- BTC to receive trillion dollars once the ETF gets approved.
Almost every individual in the crypto industry would know very well how promising the month of October was. With Bitcoin (BTC) rising profusely from a rock bottom of $45K all the way up to its current and new all-time-high (ATH) of $67K.
This was not restricted to only BTC, almost several altcoins from Ethereum (ETH) to Cardano (ADA), XRP, Binance’s BNB, and much more witnessed huge rises and gains throughout. Accordingly, the whole crypto market is right now trumpeting towards a whopping $3 trillion.
And so, it’s evident that the entire crypto market is actually thriving well and ought to be the same for the rest of the year.
Moreover, one of the major reasons for the spike of BTC to such a new ATH is all thanks to the Exchange Traded Fund (ETF) for BTC. However, the U.S Securities and Exchange Commission (SEC) still puts on hold the passing of the Spot ETFs.
BTC gaining Trillion Dollars
In spite of all this, the Co-founder and CEO of MicroStrategy, Michael Saylor puts forth his views in regards to BTC. And so, he terms that as soon as the U.S SEC declares an officially spot ETF for BTC, a massive amount of money will flow into BTC.
Moreover, Michael Saylor terms that approximately one trillion dollars will for sure pour into BTC, raising its already epic market cap even more.
Accordingly, Saylor depicts that once a spot ETF gets passed through, then initially the market cap of BTC will rise up profusely in counts of billions and billions throughout.
In addition, Saylor terms that once Spot ETF gets passed, investors would be pouring in over and over and also towards MicroStrategy too.
Owing to the overall BTC holdings of $7 billion, investors will turn towards MicroStrategy too for buying BTC.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
