MicroStrategy co-founder and executive chairman Michael Saylor highlighted the significant impact of spot Bitcoin ETFs, triggering what he described as a decade-long institutional “gold rush” for Bitcoin. Speaking at the Bitcoin Atlantis conference on March 1, Saylor emphasized that Bitcoin has now entered a phase of rapid institutional adoption.
Saylor projected that by the year 2035, 99% of all Bitcoin will have been mined, marking the beginning of the “growth phase” for the cryptocurrency. Currently, approximately 93.5% of the total 21 million Bitcoin that will ever be issued have been mined, as reported by Buy Bitcoin Worldwide.
Saylor noted that spot Bitcoin ETFs are currently serving as a “distribution channel” to only 10–20% of those interested, but he anticipates this figure rising to 100% once banks and institutional wirehouses start facilitating Bitcoin trades.
Saylor emphasized the importance of Bitcoin in securing the internet, particularly amidst the rise of autonomous artificial intelligence (AI). He argued that Bitcoin’s cryptographic features will be essential for watermarking, timestamping, and verifying messages and content in the digital world.
According to Saylor, Bitcoin will also benefit from developments in autonomous AI, as AI systems will require digital energy, potentially increasing demand for Bitcoin.
Saylor suggested that as Bitcoin becomes more energy-efficient, attention is shifting towards the energy demands of AI. He argued that concerns about energy consumption may transition from Bitcoin to AI systems as they scale up.
Investment strategist Lyn Alden discussed the potential for increased demand for Bitcoin as more nation-states embrace it. She highlighted examples such as Bitcoin Beach in El Salvador inspiring national adoption and the emergence of financial hubs in various countries.
Alden and investment manager Lawrence Lepard discussed how capital controls imposed by some regimes can drive adoption of Bitcoin. Despite attempts to restrict or ban Bitcoin, countries like Nigeria have seen significant adoption, showcasing the limitations of such measures.
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