{"id":22843,"date":"2023-06-15T03:30:35","date_gmt":"2023-06-15T07:30:35","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/billionaire-michael-saylor-says-bitcoin-price-will-10x-when-us-regulation-path-becomes-clear\/"},"modified":"2023-06-15T03:30:36","modified_gmt":"2023-06-15T07:30:36","slug":"billionaire-michael-saylor-says-bitcoin-price-will-10x-when-us-regulation-path-becomes-clear","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=22843","title":{"rendered":"Billionaire Michael Saylor Says Bitcoin Price Will ’10X’ When US Regulation Path Becomes Clear"},"content":{"rendered":"
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Michael Saylor, the co-founder and former CEO of MicroStrategy, believes regulatory clarity in the US on digital assets would catalyze a surge in the price of Bitcoin.<\/p>\n

In a recent interview with Bloomberg, Saylor predicted that BTC would increase by 10x in value after the public realizes Bitcoin’s true potential.<\/p>\n

\u201cThe next logical step is for Bitcoin to 10x from here, and then 10x again.\u201d<\/p>\n

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Saylor argued that the recent crypto crackdown by the US Securities and Exchange Commission (SEC) is \u201claying the foundation\u201d for the next Bitcoin bull run.<\/p>\n

He mentioned that the Securities and Exchange Commission (SEC) had categorized some of the most popular altcoins, including Solana (SOL), Cardano (ADA), and Polygon (MATIC), among others, as securities.\u00a0<\/p>\n

Interestingly, Bitcoin was left out of this categorization, suggesting that it may not be considered a security.<\/p>\n

\u201cRegulatory clarity is going to drive Bitcoin adoption by eliminating the confusion and anxiety that has been holding back institutional investors,\u201d the Bitcoin bull said.\u00a0<\/p>\n

He added that much of that confusion stems from other \u201ccrypto securities\u201d for which regulators \u201cdon\u2019t see a legitimate path forward\u201d in the United States.<\/p>\n

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\u201cThey have a view of crypto exchanges which is far constrained. Their view is crypto exchanges should trade and hold pure digital commodities like Bitcoin.\u201d<\/p>\n<\/blockquote>\n

In\u00a0an interview last year, Saylor suggested that every coin that enables staking or uses the proof-of-stake (PoS) mechanism is a digital security.<\/p>\n

“It has been explicitly stated by the regulators if there is a stake and it generates yield it’s an investment contract and an investment contract is a security,” he said at the time, mentioning that Ethereum is a security, due to having an ICO, pre-mine, and management team.<\/p>\n

It is worth noting that Saylor’s MicroStrategy is one of the largest public holders of Bitcoin, so much so that many consider it a Bitcoin proxy.\u00a0<\/p>\n

The company now holds 140,000 BTC, bought at an average price of $29,803 per coin.\u00a0<\/p>\n

SEC Sues Binance and Coinbase, Classifies Major Cryptos as Securities<\/h2>\n

Last week, the SEC\u00a0sued both Binance, the world’s largest cryptocurrency exchange, and\u00a0Coinbase, the largest US-based cryptocurrency\u00a0exchange.\u00a0<\/p>\n

The commission filed 13 charges against Binance and its US affiliates, ranging from allegedly operating as an unregistered exchange to offering unregistered securities.\u00a0<\/p>\n

The regulator also levied similar charges against Coinbase, claiming it operated as an exchange, broker, or clearing agency without the required registrations.\u00a0<\/p>\n

In each case, the SEC noted that several tokens listed by the exchanges are unregistered securities, including dozens of popular cryptocurrencies.\u00a0<\/p>\n

These include Binance’s native token BNB, Solana’s SOL, Cardano’s ADA, Polygon’s MATIC, Filecoin’s FIL, Cosmos’ ATOM, Sandbox’s SAND, Decentraland’s MANA, Algorand’s ALGO, Axie Infinity’s AXS, and Coti’s COTI tokens.<\/p>\n

In response to the SEC ruling, brokerage firm\u00a0Robinhood has now delisted\u00a0Cardano, Polygon, and Solana.\u00a0<\/p>\n<\/p><\/div>\n