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Crypto evangelist Michael Saylor has warned of the dire consequences that firms and institutions could face waiting for popular financial advisors to embrace Bitcoin before they can make a move.
According to a post on X by the CEO and chairman of Bitcoin-powered giant Strategy, Michael Saylor, the crypto community should accelerate its BTC exposure before it is too late to buy any Bitcoin.
A Level of Uncertainty Exists
Suggesting that the flagship cryptocurrency price would have to have reached seven or eight figures for some financial advisors to embrace Bitcoin, Michael Saylor shared a table showing the level of adoption for Bitcoin exchange-traded funds (ETFs) by leading asset management companies.
According to the table Saylor shared, only five firms, Fidelity, Charles Schwab, Wells Fargo, Mariner, and Fisher Investments, had unrestricted exposure to Bitcoin ETFs.
The list shared by Michael Saylor shows that the five firms had cumulatively invested up to $19.149 billion in Bitcoin. On the other hand, firms with Bitcoin ETF exposure restrictions had invested at least $20,886 billion into the BTC-based product. Saylor’s message to institutions is that the level of uncertainty could end quickly, but it could be too late to make a significant investment. Saylor stated:
“By the time your financial adviser says it’s OK to buy Bitcoin, it’ll cost $1 million […] when they say it’s a good idea, it’ll be $10 million.”
Done Little to Persuade Other Top Institutions
The unprecedented advisory by Michael Saylor comes at a time when some leading US-based wealth management firms like Charles Schwab, Morgan Stanley, and Fidelity are beginning to show some level of interest in offering their clients Bitcoin ETF exposure.
While these giants within the financial industry have the power to make trillion-dollar investments, they have historically maintained barriers that prevented them from accessing Bitcoin on behalf of their clients.
The main reason for the reluctance of these firms and the insistence on waiting for financial advisors to embrace Bitcoin before making a move is the digital asset’s unpredictable price movement and the uncertain regulatory environment.
Michael Saylor invested over $1 billion in BTC through his Bitcoin investment firm Strategy, but this has done little to persuade other top institutions to make a similar move. For example, with investment giant JP Morgan or Vanguard refraining from dipping their toes into Bitcoin exposure, retail investors and smaller investors who look up to them, have remained isolated from the digital asset’s opportunities.
Conclusion
Michael Saylor’s comment on the folly of waiting too long for financial advisors to embrace Bitcoin before jumping in highlights his belief in Bitcoin’s potential growth and the benefits associated with early adoption.
According to Saylor, waiting until all lights turn green before gaining exposure to Bitcoin and associated products could harm institutions and organizations. However, the easing regulatory policies under Trump’s administration could change perspectives.
Frequently Asked Questions
What does Michael Saylor say about Bitcoin?
Michael Saylor says stocks are tied to management and regulatory risk, gold is outdated and clunky, and fiat currencies are melting ice cubes. He says Bitcoin is pure, pristine collateral, mathematically finite, incorruptible, and engineered for the digital age.
Why does Saylor believe Bitcoin is a strategic treasury reserve asset?
He believes no other asset protects purchasing power over time like Bitcoin does. No other asset provides the same asymmetric upside, with institutional-grade integrity and zero counterparty risk.
What is Saylor’s target price for Bitcoin?
Saylor thinks it could soar to $13 million by 2045 and believes Bitcoin will eventually sit at the heart of the global financial system as all assets move onto the blockchain.
Appendix: Glossary of Key Terms
Financial advisor: An expert whose job is to provide financial advice to clients by guiding, assisting, and educating clients on how to stay on track with their financial goals.
Wealth management firms: Investment advisory service providers offering financial management and wealth advisory services.
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