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Michael Saylor Sees 'Parade of Positives' for Bitcoin Backers

Fri, 06/23/2023 - 08:12
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Godfrey Benjamin
Bitcoin advocate Michael Saylor shared top reasons why Bitcoin is here to stay
Michael Saylor Sees 'Parade of Positives' for Bitcoin Backers
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Michael Saylor, founder of MicroStrategy Incorporated and vocal Bitcoin (BTC) backer, has doubled down on the positives that await backers of the premier digital currency. In an interview with CNBC, Saylor highlighted why he believes that we are looking at a Bitcoin-centric future.

According to him, the cryptocurrency has unprecedented endorsement from four United States presidential candidates, and with recent Bitcoin support initiatives being introduced by large money managers, including BlackRock, Fidelity and Charles Schwab, among others, is an indication that they now know BTC is the clear winning asset.

Saylor is also bullish on the fact that the general public is beginning to feel a soft spot for Bitcoin as he noted that the broader crypto market has formed around the cryptocurrency.

On the lack of regulatory clarity currently surrounding the digital currency ecosystem, Saylor said, having read thousands of legal documents concerning these regulations, that Bitcoin is the only universally accepted commodity, and it can form a rallying point on which other assets can hinge.

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As far as Saylor is concerned, "the future will bring a parade of positives for those intent on proliferating bitcoin as an instrument of economic empowerment."

Growth through regulatory clarity

Michael Saylor noted that more big financial firms will be making their way into the digital currency ecosystem once they are able to distinguish which asset is a commodity and which is a security.

Noting that Bitcoin is clearly the asset they are looking for, the veteran tech expert said investors need to be sure they can keep custody of the asset and trade it on exchanges with liquidity, all of which can be made possible with the right regulations in place.

Bitcoin has survived a number of regulatory hardships thus far this year, and with related bullish comments from personalities like Michael Saylor, sentiment surrounding the cryptocurrency is bound to soar.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.