Bitcoin News Logo

Digital Asset Industry “Destined” To Be Bitcoin-Centric As Regulations Tighten — Michael Saylor


Written by:

Alex Lari

Support writers:   ⚡ Tip the author

According to Michael Saylor, co-founder of MicroStrategy, regulatory actions taken against digital asset firms in the United States may lead to the emergence of a bitcoin-centric industry, ultimately driving its price beyond $250,000.

In an interview with Bloomberg on June 13, Saylor, a strong advocate for bitcoin, elaborated on how recent enforcement measures by the Securities and Exchange Commission (SEC) would ultimately benefit bitcoin, as it is the only digital asset exempted from being classified as a security by SEC Chair Gary Gensler.

Read more on the subject : Bitcoin Is The Only Winner In SEC Clash

According to Saylor, U.S. regulators hold a negative stance towards altcoins and do not envision a viable future for them.

He emphasized that they harbor no affinity for stablecoins, crypto-tokens, or crypto-based derivatives. Saylor further noted that the catalysts driving the substantial price surge would be the situation with the digital asset exchanges.

He added:

“[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. The next logical step is for Bitcoin to 10x from here and then 10x again”.

According to Saylor, the market share of bitcoin has risen from 40% to 48% in 2023. This increase can be partly attributed to the Securities and Exchange Commission’s enforcement actions and their classification of 68 digital asset as securities, none of which utilize proof-of-work.

Read more on the subject : 3 Reasons why Altcoins are Vaporware and should not be part of your Portfolio

Looking ahead, Saylor anticipates that bitcoin’s dominance will further grow to 80% as “mega institutional money” enters the space, and the prevailing “confusion and anxiety” surrounding bitcoin subsides.

Read more on the subject

Share this post via:

Enjoyed the article?

100% of your tips go directly to [email protected]
Need a wallet? Get it here

⚡️ Tip The Artist is not investment advice.

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


Plan B with a Cinematic Twist

The second edition of Plan B Forum, one of the most important bitcoin gatherings in Switzerland, is set to return to the picturesque city of Lugano on the last weekend of October.

Read More »

Join our news letter



share this post via