Regulations benefit Bitcoin (BTC) price, according to MicroStrategy’s pattern
MicroStrategy’s CEO has once again shown his maximalist attitude towards Bitcoin (BTC). He also believes that the increasing regulations are rather positive for the course of the largest cryptomonnaie.
The regulations are beneficial for the price of Bitcoin (BTC), according to the MicroStrategy boss.
MicroStrategy CEO Optimistic on Bitcoin Regulations
Michael Saylor, MicroStrategy’s CEO, shared his views on Bitcoin and encryption regulations in an interview with SALT Talks. He began by reiterating his enthusiasm for the world’s largest encryption industry, explaining :
„If God had created gold without any imperfections, it would have been Bitcoin. »
Beyond these evangelical words, Michael Saylor also explained by Bitcoin Machine why he considers that Bitcoin will not suffer from the regulations that are being drawn up at the international level, on the contrary:
On the contrary: „As far as the regulated entities interested in Bitcoin are concerned, I think that this will simply accelerate the massive inflow of institutional money into Bitcoin. »
Proof of this, according to Saylor, is that most investors already purchase Bitcoin on centralised exchanges, which are highly regulated. Regarding the increased pressure from governments, MicroStrategy’s CEO is equally positive:
„I don’t think it’s a disaster. I don’t think it’s negative for the industry. In fact the opposite will be true. I don’t think Bitcoin needs to be regulated to be successful. I think it just needs to be better than gold. »
The Bitcoin course catches its breath after the ATH
While MicroStrategy’s CEO is particularly bullish on the future of Bitcoin, regardless of the regulations, not everyone is. The BTC share price has indeed given itself a prolonged respite after its breakthrough above $40,000, which makes some commentators doubtful.
Notably, JPMorgan pointed this weekend to the lack of institutional investors to explain this decline:
„At the moment, the institutional inflow behind Grayscale’s Bitcoin trust is not sufficient for Bitcoin to break above $40,000. »
It is true that the BTC share price has not continued to explode since its sudden fall on 21 January. Since then it has fluctuated between 30,500 and 33,800 dollars, with a new breakthrough beginning early this morning:
It should be noted, however, that in spite of the worries, this corresponds to a +35% progression over the month, with a capitalisation that still exceeds 622 billion dollars.