Bitcoin Will Benefit From Proper Cryptocurrency Regulations, Says Michael Saylor
MicroStrategy’s CEO opined that implementing the proper regulatory rules on the cryptocurrency industry would be highly beneficial to bitcoin. He once again praised the merits of the primary cryptocurrency, saying it is “the only investable asset” for institutions.
Clarity Would Be Good for BTC
In a recent interview for Bloomberg, the American billionaire Michael Saylor shared his views on hot cryptocurrency topics, such as regulatory supervision and bitcoin’s advantages.
According to him, regulations and clarity in the space would have a positive effect on the entire market. They can also decrease bitcoin’s volatility and raise its popularity among the general public. Institutional adoption towards the cryptocurrency would also accelerate shortly after:
“There is a need for clarity. Crypto regulations and clarity in the industry would reduce the volatility in the bitcoin space and increase public confidence in bitcoin.”
Michael Saylor, known as one of the biggest proponents of BTC, once again demonstrated his support towards the asset. He said that the primary digital asset is that “commodity store of value to hold for the next 30 years.” There might be a lot of money in other crypto projects like Solana and Ethereum, but there are also “a lot of risks” when dealing with them.
Saylor reminded that his organization – MicroStrategy – invests only in bitcoin. In fact, the business intelligence company recently purchased another sizeable amount of the asset – 5,050 BTC worth around $240 million (calculated at today’s prices). Thus, MicroStrategy’s total bitcoin holdings have increased to over 114,000.
Commenting on The Protests in El Salvador
Saylor also gave his two cents about the riots that sparked in El Salvador after it accepted bitcoin as a legal tender. While the legislation officially came into force on September 7th, some locals were not so supportive of it. According to a recent research, 70% of El Salvadorians were not happy with the government’s decision.
He explained that the core of the issue is the primary digital asset being the “most disruptive technology of the decade.” As such, everyone has an opinion about it, and sparks are inevitable.
The executive pointed out that the “big news” in the Latin American country is not the protests but the fact that nearly 500,000 residents downloaded the BTC wallet (Chivo) and received $30 worth of bitcoin. He went further, describing the event as “extraordinary” and “world-shaking.”
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