Michael Saylor, the CEO of MicroStrategy, a company that has made Bitcoin its primary business, predicted on Tuesday that the U.S. crypto industry is heading towards a Bitcoin-centric future.
In an interview with Bloomberg, Saylor stated that recent statements from the U.S. Securities and Exchange Commission (SEC) have laid the foundation for the next surge in Bitcoin. He emphasized that regulatory clarity will facilitate the adoption of Bitcoin, eliminating the confusion and concerns that have held back institutional investors.
Saylor noted that much of the confusion stems from other crypto assets, particularly securities, for which regulators do not see a legitimate path forward in the U.S. They have a narrow view of cryptocurrency exchanges, believing that these platforms should only trade and hold pure digital commodities like Bitcoin.
It is worth mentioning that last week, the SEC filed a lawsuit against Coinbase and Binance, the two largest cryptocurrency platforms in the world, alleging that they offered their customers securities without proper registration.
However, the SEC has excluded Bitcoin from the category of securities, stating that it is decentralized enough to be considered a commodity. Saylor believes that as a result of crackdowns on stablecoins and other tokens, Bitcoin’s long-term dominance in the cryptocurrency market will once again exceed 80%.
“The public is starting to realize that the next logical step is multiplying Bitcoin by 10, and then again by 10,” he added.
Lastly, it should be noted that MicroStrategy, owned by Saylor, is one of the largest holders of Bitcoin in the world, with a portfolio of 140,000 BTC purchased at an average price of $29,803 per coin. The company has never bought any other cryptocurrencies, considering Bitcoin as the sole institutional-grade investment asset in the crypto space.
