Bitcoin Will Benefit From Proper Cryptocurrency Regulations, Says Michael Saylor

MicroStrategy CEO, said that it would be a great benefit to bitcoin if the appropriate regulatory rules were implemented. He once more praised the virtues of the primary cryptocurrency, stating that it is “the only investmentable asset” for institutions.

BTC would benefit from clarity

The American billionaire Michael Saylor spoke out about hot topics such as regulation supervision and the advantages of bitcoin in a Bloomberg interview.

He believes that regulations and clarity would have a positive impact on the whole market. They can reduce bitcoin’s volatility, and increase its popularity with the general public. The adoption of cryptocurrency by institutions would accelerate soon after.

There is an urgent need for clarity. Clear regulations in crypto would decrease volatility and increase confidence in bitcoin.

Michael Saylor, a proponent of Bitcoin, has once again expressed his support for the asset. He stated that the primary digital asset was the “commodity store value to hold for 30 years.” While there might be some money in other crypto projects such as Solana or Ethereum, there are “a lot risks” when it comes to dealing with them.

Saylor reminded us that MicroStrategy, his company, invests in only bitcoin. The business intelligence company purchased 5,050 BTC, which is approximately $240 million at current prices. MicroStrategy now has more than 114,000 bitcoins.

Michael Saylor, Source: Forbes

Commenting on the Protests in El Salvador

Saylor also shared his opinion about the violence that broke out in El Salvador following it’s acceptance of bitcoin as legal tender. Although the legislation was officially in force on September 7, some locals weren’t so supportive. A recent survey found that 70% of El Salvadorians did not like the government’s decision.

He said that the main issue was the “most disruptive technology in the decade” as the primary digital asset.

Executive pointed out that the “big story” in Latin America is not protests, but rather the fact that almost 500,000 people downloaded the BTC wallet (Chivo), and received $30 worth bitcoin. He described the event as “extraordinary” & “world-shaking.”

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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