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HomeCrypto NewsMarketMicrostrategy CEO, Michael Saylor On China Banning BTC And Crypto: “Nothing Has Created More Wealth In The Past Decade...

Microstrategy CEO, Michael Saylor On China Banning BTC And Crypto: “Nothing Has Created More Wealth In The Past Decade Than Technologies Banned In China”

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Microstrategy CEO, Michael Saylor always shows that he is a faithful supporter of Bitcoin. Microstrategy currently holds 108,992 BTC. Michael Saylor is among the big names of long-term and hardcore support of Bitcoin, just like Twitter CEO Jack Dorsey.

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In his comment, he has shared a fascinating fact that any technology that China bans has turned into huge success:

“Nothing has created more wealth in the past decade than technologies banned in China. #Bitcoin”

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There is a significant list of business/Technologies that were banned by China and they are more than successful:

  • Facebook
  • Instagram
  • Google
  • YouTube
  • Wikipedia
  • Netflix
  • Vimeo

 

This is not the first time China has banned crypto. According to Cointelegraph, Since 2009, China has forbidden BTC and crypto 19 times. Out of these 19 bans, 11 stops came directly from Chinese and Hong Kong regulators like People Bank of China (PBOC) applying or hinting at enforcing a crypto ban.

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According to Senator Patrick Joseph Toomey Jr. (R-PA) tweet, the United States can benefit a lot from anti-crypto actions by the Chinese government.

He said:

 

Jeremy Allaire, CEO of Circle Inc and USD Coin (USDC), lists two models for the United States’ response to Chinese hostility.

 

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Ammara
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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