The CEO of MicroStrategy believes bitcoin is a politically, technically, economically sound platform, and adequate governments regulations of the cryptocurrency industry can spur large investors’ adoption of digital assets.
On CNBC’s Squawk on the Street, Michael Saylor said he would welcome more cryptocurrency market regulation. According to the businessman, bitcoin and similar assets lack a “clear definition,” as well as a distinction between what is digital property, what is digital security, and what is a digital currency. So it is crucial to clarify the rules for digital currencies, and also, cryptocurrency exchange should operate.
“Big technology and financial companies, as well as billions of people, need a quality digital solution. Technically and financially advanced, politically and morally acceptable. So we have a Technically sound, economically sound, and Politically Sound Platform, And That Is Bitcoin. I think people are gradually starting to understand this.
I think additional regulatory clarity from the administration is the point of benefit for bitcoin and accelerates its institutional adoption.
Precise definitions of a digital property vs. digital security vs. a digital currency and operating rules of digital exchange are beneficial and necessary. I think that people understand that Bitcoin is common property and not a security.”
One of the important catalysts for the adoption of bitcoin could be the approval of spot ETF, Saylor believes. So far, US regulators have allowed only bitcoin futures ETFs to enter the market.
Also Talking to Bloomberg, Michael Saylor said MicroStrategy stocks are the best alternative to bitcoin exchange-traded funds (ETFs) because there are no fees to purchase and hold securities.
“If you are looking for a leveraged Bitcoin bet with spot exposure with positive returns, MicroStrategy is the only player worth it.”
As of January 31, MicroStrategy owned 125,051 bitcoins, which, at the current exchange rate, is approximately $4.4 billion. The company’s management plans to continue purchasing the Bitcoin with time.
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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