MicroStrategy’s Michael Saylor: US Crypto Industry Ready for a Bitcoin Revolution
Michael Saylor, the executive chairman of MicroStrategy, expressed his optimism about the future of the US crypto industry.
He believes that recent regulatory actions are paving the way for a Bitcoin-centric era, eliminating confusion and anxiety among institutional investors.
Saylor highlighted the importance of regulatory clarity, suggesting that it will drive Bitcoin adoption while leaving behind other “crypto securities” that face regulatory uncertainty. He emphasized that crypto exchanges should focus on trading and holding pure digital commodities like Bitcoin.
While the SEC’s recent lawsuit against Coinbase raised concerns, Saylor remains confident in Bitcoin’s status as a decentralized commodity, unaffected by the regulatory crackdown on stablecoins and other tokens. He predicts that Bitcoin’s dominance in the crypto market will surpass 80% in the long run.
As an advocate for Bitcoin, Saylor reiterated his belief in its potential for exponential growth. With MicroStrategy holding a substantial amount of Bitcoin, he considers it the only institutional-grade investment asset in the crypto space.
Notably, Saylor has previously argued that Ethereum (ETH) should be classified as a security due to its initial coin offering (ICO), pre-mine, and management team.
Clever Robot News Desk 16th June 2023
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