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Gryphus ∞/21M
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2023-09-09 21:49:59

Gryphus ∞/21M on Nostr: **1. Spot #ETF approval** An exchange-traded fund (ETF) is a type of investment fund ...

**1. Spot #ETF approval**

An exchange-traded fund (ETF) is a type of investment fund that tracks an underlying asset, such as a stock index or commodity. Spot ETFs are those that track the price of an underlying asset directly, as opposed to futures ETFs, which track the price of an underlying asset in the future.

A spot Bitcoin ETF would allow investors to buy and sell Bitcoin on traditional exchanges, such as the New York Stock Exchange. This would make Bitcoin more accessible to a wider range of investors and could lead to increased demand and price appreciation.

The U.S. Securities and Exchange Commission (SEC) has yet to approve a spot Bitcoin ETF, but Saylor believes it is inevitable. In fact, the #SEC is currently reviewing several applications for spot Bitcoin ETFs.

**2. Banks custody and lend against Bitcoin as collateral**

Currently, most banks do not custody Bitcoin or lend against it as collateral. This is because Bitcoin is a relatively new asset and there is still some uncertainty about its safety and volatility.

However, Saylor believes that banks will eventually start to custody and lend against Bitcoin as it becomes more mainstream. This would make it easier for investors to access Bitcoin and could also lead to increased demand and price appreciation.

**3. Fair value accounting rules from FASB**

The Financial Accounting Standards Board (FASB) is the private organization that sets accounting standards for public companies in the United States. In June 2023, the #FASB approved new fair value accounting rules for Bitcoin.

These new rules will require public companies that hold Bitcoin to report its fair value on their balance sheets. This will make Bitcoin more transparent and could make it more attractive to institutional investors.

#Saylor believes that these 3 catalysts will take Bitcoin to $5 million. However, it is important to note that these are just his predictions and there is no guarantee that they will come true.

The price of Bitcoin is determined by supply and demand, and there are many factors that could affect both of these in the future. For example, if more countries adopt Bitcoin as legal tender, this could increase demand and drive up the price. However, if there is a major hack or other negative event involving Bitcoin, this could decrease demand and drive down the price.

Overall, it is impossible to say for sure whether Bitcoin will reach $5 million. However, the catalysts mentioned by Saylor could certainly play a role in driving up the price in the future.
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