MicroStrategy Founder Believes Bitcoin ETFs Will Outperform Funds Based on Gold

MicroStrategy founder Michael Saylor believes that digital currencies, particularly Bitcoin, are now starting to compete with traditional gold exchange-traded funds (ETFs) as the largest in the commodity category.

Saylor, a Bitcoin enthusiast, admitted that the success and inflows of these ETFs had surpassed his expectations, and that digital gold products were now right behind S&P 500-based instruments.

Since its launch on January 11, the net inflow into spot Bitcoin ETFs has reached $8.9 billion, according to BitMEX. Among the top 20 most actively traded ETFs are BlackRock’s IBIT and Fidelity’s FBTC.

In terms of trading volume, on March 5, these funds collectively exceeded $10.4 billion, surpassing even Microsoft shares which had a volume of $8.9 billion. The total AUM (assets under management) for these funds has reached $53.11 billion.