A Resounding Assurance of Bitcoin's Dominance.

[Cryptomultiplier]

In an interview with Bloomberg on June 13, Michael Saylor, the founder and chairman of Microstrategy, delved into the recent crackdown on exchanges. Saylor emphasized that Microstrategy has held the belief since 2020 that bitcoin (BTC) stands alone as the “only institutional grade investable asset in the crypto space.” He underlined the fact that BTC is widely recognized as a digital commodity on a global scale, and he speculated that regulators do not envision a promising future for other cryptocurrencies

...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.”

This resounding assurance comes at a time when the SEC regulators has found Binance and some other exchanges including most stablecoins, crypto securities and tokens, liable to have contravened some laws or have not met up to a certain specific standard, which BTC holds.
The talk of how crypto currencies would perform following the case against Binance, has been in talks and the fear we all had at the back of our mind is, could this be the beginning of the end of cryptocurrencies?

I mean, a majority of the worlds population knew Bitcoin first before other coins started coming up, if such event like the regulators are imposing, takes a toll on Binance;
*What happens to the coins of those who invested in BTC and other coins in the exchange?
*What becomes of the crypto market?
*How would other sectors like forex or stocks be impacted?

This vote of confidence by  Michael Saylor, the founder and chairman of Microstrategy, more than soothes the frayed nerves of investors and traders who have and HoDL  BTC as their asset or security as it is being tagged.
There is no fear of anyone losing their BTC or entertaining the idea that Bitcoin is dying/crashing anytime soon, as it authentic and committed to its vision of the future.

Let's Discuss!

https://news.bitcoin.com/microstrategys-saylor-envisions-bitcoin-only-future-for-crypto-industry-as-us-regulators-hammer-the-sector/

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[mk4]

How is Binance the end of cryptocurrencies? Binance is just one exchange despite it being one of the biggest. If Bitcoin survived MtGox, how will crypto not survive Binance? It's a no-brainer.

*What happens to the coins of those who invested in BTC and other coins in the exchange?

Totally depends on what actually ends up happening to Binance.

*What becomes of the crypto market?
*How would other sectors like forex or stocks be impacted?

Still up and running like always? Just very likely in the red for a while.

*How would other sectors like forex or stocks be impacted?

Obviously unaffected — if anything, it'll be more bullish for them.

[tranthidung]

This resounding assurance comes at a time when the SEC regulators has found Binance and some other exchanges including most stablecoins, crypto securities and tokens, liable to have contravened some laws or have not met up to a certain specific standard, which BTC holds.
The talk of how crypto currencies would perform following the case against Binance, has been in talks and the fear we all had at the back of our mind is, could this be the beginning of the end of cryptocurrencies?

Too long but let's sum it up as issues with legality and regulations.

I mean, a majority of the worlds population knew Bitcoin first before other coins started coming up, if such event like the regulators are imposing, takes a toll on Binance;
*What happens to the coins of those who invested in BTC and other coins in the exchange?

It's about Binance US. which is a branch of Binance, not Binance globally. If anything bad like Binance US. failed in the lawsuit, only the branch will be affected. In addition, it is to restrict Binance US. operators but not to destroy Binance US.' users and their funds. At the end, Binance US.' users will be able to withdraw and receive their funds.

*What becomes of the crypto market?

Not good but the market will recover eventually.

*How would other sectors like forex or stocks be impacted?

If it is about Binance US., it won't impact Forex and Stocks markets. They are older markets and have more and clearer regulations already. Cryptocurrency market is younger and it is more sensitive to new regulations which are unpredictable.

[Cryptomultiplier]

How is Binance the end of cryptocurrencies? Binance is just one exchange despite it being one of the biggest. If Bitcoin survived MtGox, how will crypto not survive Binance? It's a no-brainer.

It's true that Binance is one of the biggest exchanges, it is also not the only exchange facing the back fire from the SEC regulators as kraken is lined up too. My point of view is from an angle that subjects the customers/users patience and trust to constant test.
What happened to FTX more than helped in reducing the influx of new users to the crypto world, with Binance, kraken in the news, prospective new users may be faced with a double mindset and may even give up the thoughts of investing in crypto.

[Cryptomultiplier]

It's about Binance US. which is a branch of Binance, not Binance globally. If anything bad like Binance US. failed in the lawsuit, only the branch will be affected. In addition, it is to restrict Binance US. operators but not to destroy Binance US.' users and their funds. At the end, Binance US.' users will be able to withdraw and receive their funds.

*What becomes of the crypto market?

Not good but the market will recover eventually.

*How would other sectors like forex or stocks be impacted?

If it is about Binance US., it won't impact Forex and Stocks markets. They are older markets and have more and clearer regulations already. Cryptocurrency market is younger and it is more sensitive to new regulations which are unpredictable.

Yes and thanks for the clarity.  I just had a concept that most SEC regulators in other countries may also be forced to put an extra eye on the doings and dealings of some of its exchanges, mostly for those with Binance operations, because of this issue.

If I too could get mixed up in the news from having to think the case against Binance was general, imagine what our oldies or youngies who care little, but have invested or plan to invest in cryptocurrency, would think?

[Wapfika]

This vote of confidence by  Michael Saylor, the founder and chairman of Microstrategy, more than soothes the frayed nerves of investors and traders who have and HoDL  BTC as their asset or security as it is being tagged.
There is no fear of anyone losing their BTC or entertaining the idea that Bitcoin is dying/crashing anytime soon, as it authentic and committed to its vision of the future.

People need to stop relying on public figure opinion whether it's good or bad because we are just making that person manipulate the crypto trend through his words. I’m not against Michael Saylor but we knew that he is heavily invested on Bitcoin which means he has a self interest(clearly to make a profit).

We need to hold on the fundamentals on Bitcoin and assured with that. Not because some hot guy or billionaire reassure us that everything is fine. Saylor might be pro crypto today but what if he sold in future and switch side? Then most of his believer will be converted too unlike if we are looking on the Bitcoin feature itself.

Exchange come and go in crypto. Even with Binance closure, There will be new exchange that will dominate the crypto market.

[Tytanowy Janusz]

How is Binance the end of cryptocurrencies? Binance is just one exchange despite it being one of the biggest. If Bitcoin survived MtGox, how will crypto not survive Binance? It's a no-brainer.

It's true that Binance is one of the biggest exchanges, it is also not the only exchange facing the back fire from the SEC regulators as kraken is lined up too. My point of view is from an angle that subjects the customers/users patience and trust to constant test.
What happened to FTX more than helped in reducing the influx of new users to the crypto world, with Binance, kraken in the news, prospective new users may be faced with a double mindset and may even give up the thoughts of investing in crypto.

The SEC only attacks binance.us and not all of binance, which has already been mentioned here, but it's worth adding that binance.us has a ridiculously small volume comparing to binance (not even comparing to whole crypto traading volume). See for yourself.
Binance.us today trading volume = $40 mln
Binance.com today spot trading volume = $9 000 mln
binance.com futures trading volume = $46 000 mln

so binance.us is not even a 1% of binance. Binance.us is even 4x smaller than pancakeswap (dex on binance smart chain)

[mk4]

It's true that Binance is one of the biggest exchanges, it is also not the only exchange facing the back fire from the SEC regulators as kraken is lined up too. My point of view is from an angle that subjects the customers/users patience and trust to constant test.
What happened to FTX more than helped in reducing the influx of new users to the crypto world, with Binance, kraken in the news, prospective new users may be faced with a double mindset and may even give up the thoughts of investing in crypto.

Always remember that the world doesn't only contain the United States. Even if the United States totally 100% bans bitcoin and crypto, there's still all the other countries that could and definitely would speculate on bitcoin and cryptocurrencies.

[Z-tight]

The talk of how crypto currencies would perform following the case against Binance, has been in talks and the fear we all had at the back of our mind is, could this be the beginning of the end of cryptocurrencies?

The current case is against binance.us, but if binance.com bites the dust, a lot of shitcoins will be expunged from the crypto industry, so people holding too many shitcoins have a right to be scared if there is a problem with binance, it will be the end for a lot of crypto's if the exchange collapses, but BTC will remain, the price will plunge, but it will only be temporary and a chance for people to buy more BTC's.

This vote of confidence by  Michael Saylor, the founder and chairman of Microstrategy, more than soothes the frayed nerves of investors and traders who have and HoDL  BTC as their asset or security as it is being tagged.

You don't have to trust anybody's opinion in the crypto industry, not even Michael Saylor's, you can do your own research and give your own opinion. If you are holding BTC, you have to know that Binance isn't BTC's bank, and that the BTC network is decentralized, events that affect Binance and other crypto services can only create a temporary plunge in price, but BTC is too useful to fail because of the collapse of any exchange.

[vv181]

It's funny that you claimed most Bitcoin investors or traders or users are assured by figures like Michael Saylor. More importantly, a robust system and network that is perceived as dependent on a centralized exchange such as Binance. To further support Bitcoin resiliencies, Any user should try to explore another decentralized solution such as a decentralized exchange. Within the Bitcoin space, we have known the prominent DEX like Bisq.

The essential thing is just because Binance got difficulties it does not mean they will indirectly reduce Bitcoin's dominance. Bitcoin does not dependant on such a thing.

[Ambatman]

A person that would need assurance on Bitcoin dominance and resilience know nothing about what Bitcoin entails
What it has survived
Why it was created
And the need it came to satisfy
Bitcoin has passed through many turbulent situations like the Bankruptcy of FTX which lead to a dip due to sentiments but it still stayed strong like a Cockroach.
Bitcoin would face more difficulties, changes is usually accompanied by some resistance.
The Government(SEC) attack just means we on the right path.

[Dr.Bitcoin_Strange]

What is the SEC doing? (rhetorical, perhaps). busting the bubbles of some centralized exchanges that they think violate some rules. But wait, when Bitcoin started, buy/sell transactions were mainly via P2P transactions; then, the SEC did not worry about anything like CEX, so now there are too many CEX and a lot of problems for themselves, and I don't see those problems putting an end to Bitcoin. But rather can eliminate some investors who chose to be ignorant of their privacy. What surprises me now is that despite what is happening, some people are not really even aware that Binance has been charged by SEC, but yet, those users are heavily loading up coins on their accounts. They are not heeding to the warning, "Never store coins on CEX."

If you ask me, I would say that Bitcoin is here to stay.