2023-06-16 08:40:01
MicroStrategy CEO Michael Saylor said recent actions by US regulators indicate that the cryptocurrency industry is heading toward a Bitcoin-focused industry.
“MicroStrategy’s view since 2020 has been that the only institutional-grade asset is Bitcoin,” Saylor added in an interview with Bloomberg last Tuesday.
“It’s quite clear that the regulators don’t see a legitimate path forward in the cryptocurrency space…and so the whole industry is kind of destined to go into a Bitcoin-focused industry,” he continued.
Saylor predicted that the next logical step would be for Bitcoin to multiply 10 times in value to $250,000.
“Ultimately, I have confidence that cryptocurrency exchanges will truly realize that Bitcoin is the dominant asset in this space, and their business models do well when Bitcoin goes up 10x,” he concluded.
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