According to Michael Saylor, recent actions by US regulators have cleared that the crypto business has the potential to be organized as a bitcoin-focused industry.
Michael Saylor has a Bullish Prediction
Saylor stated: “The next logical step is for Bitcoin to 10x from here and then 10x again.”
In a June 13 interview with Bloomberg, he claimed that American authorities “don’t see a legitimate path forward for cryptocurrencies,” stressing that “they don’t have any love” for stablecoins, crypto-tokens, or cryptocurrency-based derivatives.
SEC’s Anti-Crypto Propaganda
According to him, “[The SEC’s] view is crypto exchanges should trade and hold pure digital commodities like Bitcoin and so the entire industry is kind of destined to be rationalized down to a Bitcoin-focused industry with maybe a half a dozen to a dozen other proof of work tokens.”
Bitcoin to Reach $250K
He also predicted that Bitcoin, the only cryptocurrency that Gary Gensler, the chair of the SEC, had decided wasn’t a security, would eventually reach a price of over $250,000.
Notably, the SEC filed complaints against Binance and Coinbase just recently in which a total of 19 tokens were listed in the filings yet Bitcoin wasn’t one of them.
Saylor predicted that cryptocurrency exchanges would serve as the “catalysts” driving a massive price increase. In addition, He emphasized the need for regulatory clarity for the expected Bitcoin bull run.
“Regulatory clarity is going to drive Bitcoin adoption by eliminating the confusion and anxiety that has been holding back institutional investors.”
Michael Saylor is Fascinated by Ordinals
Saylor also revealed last month that his company is not just fascinated by Ordinals but is also interested in the idea that the technology that has outraged the Bitcoin community might promote software innovation in an interview at Bitcoin 2023 in Miami.
On the PBD Podcast, he previously referred to Ordinals as a “catalyst” for the adoption of Bitcoin. Notably, MicroStrategy’s executive chairman Saylor owns close to 140,000 BTC worth about $4 billion.