Michael Saylor, CEO of MicroStrategy, isn’t concerned about the prospect of stricter Bitcoin regulations. Instead, he sees imminent future regulation, if at all, as good for the industry as it would allow more institutional inflows.
Saylors says regulation will be good for Bitcoin
In a Bloomberg interview, Saylor was asked if he was afraid of holding Bitcoin, which could be used to bypass censors, capital controls and taxpayers. This is all the more true if regulators decide to issue stricter rules at a later date.
Saylor responded that companies need to invest in assets to be successful and deliver value to shareholders. He reiterated previous points in choosing the best investment (s) to achieve this goal. Given the options available, Saylor concluded that Bitcoin is the highest quality asset that people and institutions can buy.
“If we want to avoid bankruptcy, we choose to buy gold, buy a portfolio of stocks, maybe buy some forest or oil contracts or some kind of commodity.
Businesses need to become wealthy if they are to thrive and maintain shareholder value. So Bitcoin is the highest quality property that you can buy. ”
Also, to answer the question, Saylor said AML and KYC regulations are already in place to address top regulatory concerns. Although he admitted that further regulatory improvements could be made in the future, he sees this as positive as the institutions would have more confidence in investing in Bitcoin. He believes this will lead to greater inflows.
The regulatory environment in this regard is already pretty clear. I mean, AML KYC regulations have been applied to all of these exchanges.
I think there will be a little more parity and precision in the coming year or two. I think this will be the green light for institutions to invest 10x, 100x more in Bitcoin. I think that will be good for the industry in general.
Regulators have to walk a fine line
It is the job of the supervisory authorities to protect investors. At the same time, overregulation of the cryptocurrency is likely to stifle a burgeoning market that is still gaining a foothold.
Though Saylor doesn’t deal with regulation, Brad Garlinghouse, CEO of Ripple, believes that the US Securities and Exchange Commission, through its lawsuit against Ripple, is implying that there is more going on behind the scenes.
Garlinghouse said the SEC’s actions are a deliberate attempt to stifle innovation in the cryptocurrency. Adding is a problem that every crypto project should consider.
“The SEC is doing the opposite of“ promoting innovation ”here in the US. It’s not just XRP they’re attacking here. ”
While Saylor is confident that regulators will continue to rate Bitcoin positively, there needs to be the idea in the back of your mind that anything can happen and that Garlinghouse might have a point.
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