The co-founder of MicroStrategy and famous Bitcoin maximalist, Michael Saylor, believes the one approach for Bitcoin is up. In a latest interview with Bloomberg Crypto, he was simply as dismissive of altcoins as ever.
Saylor pulled no punches in his Bloomberg interview on Tuesday. He opened his feedback by confirming that MicroStratgy sees Bitcoin because the “only institutional grade investable asset in the crypto space.”
Bitcoin Is the Only Game in Town, Says Saylor
Not solely is Bitcoin the one possibility for crypto traders, however for this explicit foreign money, the sky is the restrict, Saylor argued:
“Now I think the public is beginning to realize that Bitcoin is the next Bitcoin. The next logical step is for Bitcoin to 10x from here, and then 10x again. Eventually, I have confidence that the crypto exchanges will come round and realize that Bitcoin really is the dominant asset in this space.”
Saylor additionally identified that Bitcoin’s dominance has risen from roughly 40 to 48 p.c this yr alone. Bitcoin dominance refers to its market share in comparison with that of all different cryptocurrencies. “When the stablecoins and the tokens go away, that long-term dominance is headed for 80 percent,” he added.
Michael Saylor has lengthy been a Bitcoin maximalist—somebody who advocates for Bitcoin above all different cryptocurrencies—even utilizing the time period to explain himself final yr. Maximalists (or “maxims”) actively distinguish altcoins from Bitcoin. Frequently viewing them as pale imitations of the unique cryptocurrency, if not outright scams.
Saylor Praises the Clarity From the SEC
Saylor additionally blamed the dearth of institutional funding within the house on “confusion and anxiety.”
“When that disappears, you are going to see mega amounts of money flow into this space,” Saylor added. “And the business models [of the crypto exchanges] will be fine. Just focus on Bitcoin.”
Perhaps unsurprisingly, Saylor touted the upcoming Bitcoin halving, the elevated hash price, and the “clarity that has come from the SEC” as gasoline for the following bull run. Last week, in its motion towards Binance, the SEC labeled a number of high altcoins as securities.
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