#SaylorBTCPurchase Strategy founder Michael Saylor shared why newly appointed SEC Chairman Paul Atkins could be good for business in a post published to X on Tuesday.
Atkins promises cryptocurrency regulation by principles
"SEC Chairman Paul Atkins will be good for Bitcoin," Saylor said in an April 22 post with a video of the SEC head affirming his commitment to digital asset regulation. "My top priority in my chairmanship will be to provide an official regulatory framework for digital assets," Atkins said during his swearing-in ceremony on Tuesday.
"Through a reasonable, coherent, and principled approach, we will work to ensure that the United States is the best and safest place in the world to do business," he added.
The strategy continues to buy Bitcoin
Strategy, the company announced it has purchased 6,556 BTC for over $555 million
a bit last week, long known for its Bitcoin acquisition strategy. The Bitcoin treasury company, which began purchasing the cryptocurrency under Saylor's direction in 2020, had previously paused Bitcoin purchases on April 7 right after the U.S. announced President Donald Trump's controversial 'Tax Day' tariffs.
Economic policies have sent shockwaves across global markets, with Bitcoin dropping nearly 3% after rising more than 1%.
Bitcoin price rises to $93,000
Meanwhile, Bitcoin saw a slight rally on Tuesday, with the cryptocurrency hovering around $93,000 on Wednesday.
The sudden surge in the currency coincided with Atkins' official swearing-in ceremony, marking the start of his tenure at the SEC.
The federal regulator has faced pushback in recent years for its enforcement-based regulatory approach to the blockchain sector led by SEC Chairman Gary Gensler.
However, the agency has made a significant shift in its digital asset stance in recent months, dropping a
the number of lawsuits against key players in the cryptocurrency industry like Kraken, Coinbase, etc.