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Michael Saylor – Executive Chairman of MicroStrategy – believes that regulatory pressure coming from the US SEC could be a bullish factor for the price of bitcoin and increase its dominance over other digital assets.
The American predicted that many altcoins would be considered securities and exchanges would delist them. Saylor said that BTC will be one of the few to be spared, while its market share dominance could rise to 80%.
Bitcoin is ‘destined’ to succeed
One of the most ardent supporters of the primary cryptocurrency – Michael Saylor – believes that the lawsuits filed by the US SEC against Binance and Coinbase could have a positive impact on the dominance and price of bitcoin. recently Interview To Bloomberg, American said he expects the regulator to continue its crackdown on the rest of the industry in order to increase investor interest in the asset.
According to him, the agency will declare most digital currencies securities, while BTC and “a dozen others” may remain with commodity status only.
“The entire industry is destined to rationalize bitcoin and half a dozen to a dozen other proof-of-work tokens,” Sellar said.
As a result, the leading digital asset could become even more attractive to investors, pushing its market dominance to 80% from its current level of 48%.
True to himself, Saylor made another optimistic price prediction on bitcoin, seeing its valuation rise above $250,000 and then increase tenfold.
MicroStrategy’s Executive Chairman has shared several bullish predictions on BTC over the past few years. He had in June last year labeled the asset as a better financial instrument than gold, they argue Its price can skyrocket “in lakhs”.
He remained a strong proponent during the FTX meltdown, claim of That bitcoin is completely transparent and will emerge as a “winner” because it is a “digital commodity”.
BTC dominance reaches two-year high
Bitcoin’s dominance over alternative coins has gradually increased over the past several months. The latest data (provided by CoinMarketCap) shows that it reached 47.6%, a figure last seen in the spring of 2021.
The last time Bitcoin dominance hit Saylor’s future target of 80% was in early 2017. In subsequent years, however, Ether (ETH), Tether (USDT), Binance Coin (BNB), Ripple (XRP), and more. Gained traction and reduced BTC dominance.
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Michael Saylor – Executive Chairman of MicroStrategy – believes that regulatory pressure coming from the US SEC could be a bullish factor for the price of bitcoin and increase its dominance over other digital assets.
The American predicted that many altcoins would be considered securities and exchanges would delist them. Saylor said that BTC will be one of the few to be spared, while its market share dominance could rise to 80%.
Bitcoin is ‘destined’ to succeed
One of the most ardent supporters of the primary cryptocurrency – Michael Saylor – believes that the lawsuits filed by the US SEC against Binance and Coinbase could have a positive impact on the dominance and price of bitcoin. recently Interview To Bloomberg, American said he expects the regulator to continue its crackdown on the rest of the industry in order to increase investor interest in the asset.
According to him, the agency will declare most digital currencies securities, while BTC and “a dozen others” may remain with commodity status only.
“The entire industry is destined to rationalize bitcoin and half a dozen to a dozen other proof-of-work tokens,” Sellar said.
As a result, the leading digital asset could become even more attractive to investors, pushing its market dominance to 80% from its current level of 48%.
True to himself, Saylor made another optimistic price prediction on bitcoin, seeing its valuation rise above $250,000 and then increase tenfold.
MicroStrategy’s Executive Chairman has shared several bullish predictions on BTC over the past few years. He had in June last year labeled the asset as a better financial instrument than gold, they argue Its price can skyrocket “in lakhs”.
He remained a strong proponent during the FTX meltdown, claim of That bitcoin is completely transparent and will emerge as a “winner” because it is a “digital commodity”.
BTC dominance reaches two-year high
Bitcoin’s dominance over alternative coins has gradually increased over the past several months. The latest data (provided by CoinMarketCap) shows that it reached 47.6%, a figure last seen in the spring of 2021.
The last time Bitcoin dominance hit Saylor’s future target of 80% was in early 2017. In subsequent years, however, Ether (ETH), Tether (USDT), Binance Coin (BNB), Ripple (XRP), and more. Gained traction and reduced BTC dominance.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
