Founder of MicroStrategy: Regulation is a positive, optimistic about Bitcoin rising 10 times again
The recent successive lawsuits by the U.S. Securities and Exchange Commission (SEC) against Binance and Coinbase have cast a shadow over the cryptocurrency industry. However, Michael Saylor, the founder of enterprise-level Bitcoin giant MicroStrategy, does not think so. According to Decrypt, he recently told Bloomberg that regulatory actions will promote the adoption of Bitcoin. Saylor pointed out that regulatory clarity will promote the adoption of Bitcoin by eliminating confusion and anxiety. For regulators, the biggest concern is other "crypto-securities", that is, cryptocurrencies that should be classified as securities. He added that regulators have a very narrow definition of exchanges, believing that exchanges should only trade and hold purely digital commodities like Bitcoin.
Crypto City previously reported that when the SEC sued Binance and Coinbase, it also defined many cryptocurrencies as securities, such as Binance Coin ($BNB), Binance Dollar ($BUSD), Cardano ($ADA), Polygon ($MATIC), Solana ($SOL), etc.; and although the well-known brokerage Robinhood did not explicitly say that it was affected by regulation, it also announced that it would delist the three cryptocurrencies $SOL, $MATIC, and $ADA.
At present, the cryptocurrency with the least securities concerns is Bitcoin ($BTC), which the SEC believes is decentralized enough to be called a digital commodity. Therefore, Saylor believes that the SEC's move to regulate other cryptocurrencies may increase Bitcoin's market share again, and is expected to exceed 80%.
MicroStrategy holds a large amount of Bitcoin, but is still losing money
Saylor is a loyal fan of Bitcoin. He has previously argued that Ethereum ($ETH) is a security on the grounds that the cryptocurrency has conducted ICO token crowdfunding and has a management team. He has also pointed out Bitcoin's six advantages and is optimistic that it will surpass gold in the future.
MicroStrategy, founded by Saylor, was originally a software company that provided data analysis and cloud computing, and had nothing to do with Bitcoin. However, in recent years, Saylor has focused his business on investing in Bitcoin, and has also resigned as CEO to take up a key position on the board of directors.
According to BitcoinTreasuriesnet data, MicroStrategy currently holds a total of 140,000 bitcoins, with a total cost of approximately US$4.2 billion. However, the current market price of Bitcoin is US$25,000. This means that 140,000 bitcoins are only worth US$3.5 billion, which still leaves some floating losses.
