Michael Saylor says he would welcome more cryptocurrency market regulations.
https://ift.tt/B5xUaC4
On CNBC’s Squawk on the Street, Michael Saylor, the CEO of MicroStrategy, said he would welcome more cryptocurrency market regulation. According to the businessman, bitcoin and similar assets lack a “clear definition,” as well as a distinction between what is digital property, what is digital security, and what is a digital currency. So it is crucial to clarify the rules for digital currencies and cryptocurrency exchanges should operate.
Bitcoin is a technically sound, economically sound, and politically sound platform.
During his interview, Saylor said, “Big technology and financial companies, as well as billions of people, need a quality digital solution. Technically and financially advanced, politically and morally acceptable. So we have a Technically sound, economically sound, and Politically Sound Platform, And That Is Bitcoin. I think people are gradually starting to understand this.” He went on to say that he thinks additional regulatory clarity from the administration is the point of benefit for bitcoin and accelerates its institutional adoption. One of the important catalysts for the adoption of bitcoin could be the approval of spot ETF, the CEO of MicroStrategy believes.
MicroStrategy owns 125,051 bitcoins worth $4.4 billion.
Talking to Bloomberg, Michael Saylor said MicroStrategy stocks are the best alternative to bitcoin exchange-traded funds (ETFs) because there are no fees to purchase and hold securities. “If you are looking for a leveraged Bitcoin bet with spot exposure with positive returns, MicroStrategy is the only player worth it,” he noted. As of January 31, MicroStrategy owned 125,051 bitcoins, which, at the current exchange rate, is approximately $4.4 billion. The company’s management plans to continue purchasing Bitcoin with time. The CEO of MicroStrategy said believes that people understand that Bitcoin is common property and not a security.
Cryptocurrency
