Michael Saylor, founder and chairman of MicroStrategy, stated that if two important events occur in the cryptocurrency industry,The price of Bitcoin (BTC) may increase by 900%.Michael Saylor stated on CNBC that if institutional investors play a greater role in Bitcoin, the cryptocurrency market will mature and filter out malicious individuals and more speculative cryptocurrency projects
Michael Saylor, founder and chairman of MicroStrategy, stated that if two important events occur in the cryptocurrency industry,The price of Bitcoin (BTC) may increase by 900%.
Michael Saylor stated on CNBC that if institutional investors play a greater role in Bitcoin, the cryptocurrency market will mature and filter out malicious individuals and more speculative cryptocurrency projects. Popular figure Michael Saylor stated that if the above themes are realized, Bitcoin may experience a significant rebound. The expert stated in his speech:
I believe the initial responsibility was for crypto cowboys, cryptotokens, unregistered securities, and unreliable crypto custodians. We need to transition to adult supervision to take the industry to the next stage. We need major banks as cryptocurrency custodians. We need Wall Street to play a role.
Bitcoin distinguishes itself from its competitors
Famous Bitcoin bulls in the market believe that the participation of traditional finance (TradFi) in BTC will lead to an increase in the best performing cryptocurrencies. He emphasized the importance of BTC relative to many counterfeit currencies and predicted that it will eventually lose its appeal. This globally renowned figure emphasized the following views on this topic:
You know that people manipulate 100000 cryptocurrencies, known as YOLO currencies, and we need to rationalize them into Bitcoin. Bitcoin is a non issuer asset. It is a space product and a widely recognized protocol. Therefore, when Wall Street's banks and responsible custodians manage Bitcoin and the entire industry no longer focuses on the shiny little tokens that scatter and undermine shareholder value, I believe the industry will move to a new level, and we are 10 times closer from here.
As of the time of writing, based on21milyon.comThe website's data shows that the transaction price of Bitcoin, a leading cryptocurrency, is $34783.
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