MicroStrategy founder: Spot Bitcoin ETF is competing with the S&P 500 Index and will surpass gold ETFs in the future

Michael Saylor, the founder of MicroStrategy, said in an interview that the new spot Bitcoin ETFs from companies such as BlackRock and Fidelity have proven to be more successful than he had imagined. He said, "We thought Bitcoin might be a competitor to gold, but it has actually made it onto the leaderboard and is starting to compete with the SP 500 Index ETF."

Saylor also said that gold ETFs are still the largest commodity ETFs in the United States, but will be surpassed by similar Bitcoin products "in the near future."