$10M Bitcoin? Saylor Says That's When Financial Advisors Finally Get It

Wealth management firms controlling more than $50 trillion in assets continue to limit access to bitcoin exchange-traded funds (ETFs)

The price of bitcoin (BTC) could yet soar to seven figures, according to legal and political analysis from Strategy executives.

Pointing to the fact that financial advisors are still largely preventing clients from gaining exposure to bitcoin ETFs, Strategy executive chairman Michael Saylor highlighted the slow rollout of crypto products among wealthy institutions.

"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," Saylor stated on April 30.

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Breaking down the topic further, the analysis came from a chart published by Tephra Digital, which surveyed the status of bitcoin ETF access at major wealth management firms.

The data, based on direct conversations with advisors in spring 2024, sorted ETF access into three categories: prohibited, restricted, and unrestricted. Of the total estimated assets under management, about 38% are housed in firms offering full access to bitcoin ETFs.

This includes platforms like Charles Schwab, Fidelity, and Wells Fargo, which together offer exposure to nearly $19.1 trillion in funds.

However, approximately $20.9 trillion is tied to platforms with restricted access, which includes conditions based on account type, exposure limits, or investor eligibility.

Another $10.3 trillion is completely cut off from ETF access, with platforms like Vanguard, Edward Jones, and Citi continuing to bar any exposure to bitcoin ETFs.

Potential capital flows were also highlighted by Tephra Digital. If just a 5% allocation to bitcoin ETFs were allowed on platforms currently prohibiting or limiting access, as much as $1.56 trillion could be invested. Even a 1% allocation would account for $312 billion.

While critics highlight market volatility and regulatory concerns, bitcoin supporters argue that dismantling these access barriers could accelerate mainstream institutional adoption. The chart illustrates not only current accessibility but also the scale of unrealized capital that could shift markets if policy positions at these wealth platforms evolve.