Michael Saylor says investing in MicroStrategy is closest you’ll get


MIAMI — MicroStrategy may technically be in the business of enterprise software and cloud-based services, but CEO Michael Saylor says the publicly traded company doubles as the first and only bitcoin spot exchange-traded fund in the U.S.

“We’re kind of like your nonexistent spot ETF,” Saylor told CNBC on the sidelines of the Bitcoin 2022 conference in Miami.

So far, the Securities and Exchange Commission has only approved ETFs that track contracts speculating on the future price of bitcoin, instead of the cryptocurrency itself. The commission has refused to greenlight any of the formal applications for a pure-play bitcoin-based ETF — a financial instrument that would give investors the…


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