MicroStrategy’s Michael Saylor Drops Important Message About Banning Bitcoin | CryptoGazette
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The CEO of MicroStrategy, Michael Saylor just dropped an essential message about banning Bitcoin. Check out the following tweet below.
Someone posted this: “Ridiculous statement! There are several ways to bring BTC to its knees. Shut down the exchanges, make it illegal to possess, make mining illegal or simply unplug the internet! China has done a great job at destroying BTC.”
Addressing volatility factors
MicroStrategy’s Michael Saylor talks about he key factors that trigger volatility in the crypto markets.
MicroStrategy founder and CEO Michael Saylor has recently talked about the factors that he believes are contributing to the wild price swings in the crypto markets.
In a new interview with CNBC, the Bitcoin (BTC) bull made sure to explain that the lack of clear regulations plays a part in the volatility of crypto markets.
He believes that this specific factor allows investors to trade in ways typically not permitted when dealing with stocks and other traditional assets.
“The volatility is driven by the immaturity of the asset class. The lack of wash trading rules – you can buy and sell [crypto assets] within the same hour…I think that’s fairly immature.”
He also said that “I think 20x leverage on the off-shore exchanges, I think the Wild West of crypto derivatives, the cross-collateralization of altcoins into ETH [or] BTC through decentralized finance (DeFi) exchanges on a Saturday night through a very thin piece of liquidity on the 177th-biggest coin – all of those things are a recipe for volatility.”
Saylor also made sure to highlight the fact that while the uncertainty around upcoming regulations may cause more volatility at first, it will eventually lower the price instability of cryptos.
Stay tuned for more news.
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