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/