Michael Saylor Says Bitcoin ETFs And AI Will Ignite A Decade-Long “Gold Rush” For BTC

Updated: 05 March 2024

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The launch of spot Bitcoin ETFs (exchange-traded funds) in the US and the rise of artificial intelligence (AI) will ignite a decade-long institutional “gold rush” for Bitcoin, said MicroStrategy co-founder Michael Saylor.

Following the January launch of Bitcoin ETFs, BTC has begun a period of ”high growth institutional adoption,” Saylor said at a conference on March 1.

“I think that we’re in the Bitcoin gold rush era,” he said. “It started in January of 2024 and will run until about November of 2034.”

By 2035, 99% of the leading crypto’s total supply will have been mined, which will then trigger another “growth phase” for Bitcoin, he added.

#Bitcoin Now pic.twitter.com/Tbp34ilW0t

— Michael Saylor⚡️ (@saylor) March 4, 2024

Michael Saylor Says Bitcoin ETFs Provide A Distribution Channel

Saylor said that spot Bitcoin ETFs are now providing a “distribution channel” for only around 10-20% of the investors currently interested in the crypto.

But the majority of banks and other wealth platforms will eventually be pressured into providing Bitcoin services because their biggest clients will demand it, and that will open Bitcoin to 100% of investors, he said.

“When they can buy via their bank, their institutional wirehouse, their prime broker, they will make a $50 million decision in one hour,” he said.

There will come a day when Bitcoin “blasts past gold,” and the king of cryptos will experience more trading activity than the S&P index ETFs, he added.

Booming AI Sector Will Increase Demand For BTC

The booming AI sector will also trigger an increased demand for Bitcoin, which will serve as the crucial “system of truth” on the internet as bad AI actors make their way online, he said.

“If you want to actually watermark, timestamp, cryptographically sign messages and documents and content, you’re going to need Bitcoin to do that as a system of truth,” he said.

“So I think AI will drive demand for Bitcoin in that way,” he added.

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