Michael Saylor forecasts a multi-fold rise in Bitcoin thanks to regulation

Statements and actions SEC are laying the groundwork for the next Bitcoin bull phase. In an interview with Bloomberg, Michael Saylor, founder and former CEO of MicroStrategy, said.

Regulatory clarity is going to drive #Bitcoin adoption by eliminating the confusion & anxiety that has been holding back institutional investors. Bitcoin dominance will continue to grow as the #Crypto industry rationalizes around $BTC and goes mainstream. pic.twitter.com/Foq4lpderj

— Michael Saylor⚡️ (@saylor) June 13, 2023

“Regulatory clarity will facilitate Bitcoin adoption, eliminating the confusion and concern that have held back institutional investors. Bitcoin dominance will continue to grow as the crypto industry rationalizes around Bitcoin and becomes mainstream,” the entrepreneur said.

He noted that most of the SEC’s charges pertain to tokens with security-like characteristics. In June, the regulator filed lawsuits against exchanges Binance and Coinbase, including unregistered offerings of such assets by these platforms.

Meanwhile, the Commission regards Bitcoin as a commodity, deeming it sufficiently decentralized. Therefore, according to Saylor, regulatory actions regarding stablecoins and other tokens will return Bitcoin’s market dominance to above 80%.

“The public is beginning to realise Bitcoin’s near-term future. The next logical step for the cryptocurrency is a tenfold rise, and then another tenfold,” he said.

In 2022, Saylor left the position of CEO MicroStrategy and took the post of executive chairman. In August 2020, the firm under his leadership became the first publicly traded company to convert part of its capital (~$250 million) into Bitcoin. Saylor has repeatedly affirmed an unwavering stance on investments in digital gold.

After pокупки 1045 BTC в апреле 2023 года MicroStrategy довела резервы в криптовалюте до 140 000 BTC (~$3.63 billion at the time of writing). According to Bitcoin Treasuries, the company is the largest holder of Bitcoin among exchange-traded structures.

Earlier, Saylor expressed the view that strict regulation of the crypto industry is a necessary element of its growth.