Michael Saylor Bullish about the promise of cryptor control
Michael Saylor Bullish about the promise of cryptor control
- "We are doing our business to be an intelligent spot bitcoin ETF," said Saylor during the Exchange ETF conference
- The price for a Bitcoin could achieve $ 10 million or more, said the CEO
Michael Saylor, CEO of Microstrategy, described the recent speech by US finance minister Janet Yellen to digital assets as "probably the most important speech of the 21st century".
yellen discussed the regulation of digital assets last week during an event at the American University in Washington, DC, found that risk -controlled innovations should be "welcomed", and called for a "technology -neutral" regulation.
The conversation took place just a few weeks after the signing of a implementing regulation by President Joe Biden, in which the governmental authorities were asked to work together to examine the "responsible development" of digital assets.
"This is the green light for the entire economy," said Saylor on Tuesday during a panel at the Exchange ETF conference in Miami Beach. "All the people who thought [Bitcoin] was a ponzi scheme that was silenced. All the people who said it was perfect and too good to be true, so the government will be taken away from me, they are silenced."
Saylor was one of Bitcoin's most pronounced supporters, and Microstrategy is one of the world's largest listed companies that have Bitcoin.
The purchase was made after the Microstrategy subsidiary Macrostrategy received a loan of $ 205 million from Silvergate Bank last month, which enabled the company to buy more Bitcoin.Saylor had said during a winning call on February 1 that about 110,000 of the company's bitcoins were not pledged as security and could be used to achieve returns or for leverage.
"We run our business as an intelligent spot bitcoin ETF, which generates tax-free income for people who want this type of security," he said during the conference.
The Securities and Exchange Commission (SEC) has not yet admitted that a spot bitcoin ETF is launched. Saylor said that, although the approval of such a product could be one or two years away, he believes that there is a "more than 50%chance" that Grayscale investments have "the insider track" and first receives approval. The SEC will probably decide in July about Grayscale's proposal to convert its Bitcoin Trust (GBTC) into an ETF.
Saylor said that Bitcoin could disturb the commercial real estate market, since people use the asset as an alternative value storage into a second home, which would bring Bitcoin market capitalization to up to $ 100 trillion.
The market capitalization of Bitcoin was around $ 750 billion on Wednesday morning.
The asset can also begin to "demonize" government bonds when investors are looking for returns, added Saylor.
"A maximum of the Maximalist would look at and say that the first stop is $ 500,000 a year Coindie The next stop is $ 5 million a coin and the next stop is $ 10 million or because we assume that it will completely turn the paradigm of money and technology upside down," said Saylor. "Bitcoin is the basis of the cyber economy of the 21st century."
Saylor shared the stage with Frank Holmes, Executive Chairman from Hive Blockchain Technologies, and the two compared Bitcoin with gold.
gold "will always be there," said Holmes, but noted that millennials and certain "sophisticated" older investors switch from gold to Bitcoin.
Saylor agreed that gold will continue to be a non -state value for certain investors.
"There are many things that were built in the 20th century and which I like. I have a silver belt buckle and will keep it," said the CEO of Microstrategy. "But with the ideas of the 20th century you will not earn billions and dozens of billions and hundreds of billions; you will simply live comfortably from you. It is the ideas of the 21st century that will turn the world upside down."
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The contribution Michael Saylor Bullish on Promise of Crypto Regulation is not financial advice.
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