- Michael Saylor lately shared his ideas on cryptocurrency adoption and regulation on the Bitcoin 2023 convention.
- Saylor highlighted numerous components that stop BTC from getting used as a treasury reserve asset.
- In the end, Saylor firmly believes that BTC’s integration into conventional establishments is inevitable.
MicroStrategy founder and famous Bitcoin (BTC) fan Michael Saylor was lately interviewed on the Bitcoin 2023 convention, which occurred Could 18-20. in Miami, shared a few of his ideas on the cryptocurrency area. One of many highlights of the dialog was the dearth of regulatory readability round cryptocurrencies, which Saylor stated is intentional.
Bitcoin’s restricted presence as a treasury reserve asset amongst public firms, with solely 24 listed firms holding it in line with CoinGecko, will not be shocking given a wide range of components, Saylor stated. Saylor identified that one important problem is accounting for Bitcoin as an unsure and intangible asset.
He defined that this discourages funding since you can’t write off their worth. Moreover, the entrepreneur defined that the complexity and confusion of the cryptocurrency market, particularly with many different cryptocurrencies and up to date regulatory measures, has made conservative CFOs cautious.
However Saylor believes that Bitcoin’s credibility has been strengthened by the failures of different cryptocurrency firms, underscoring its uniqueness as a commodity. Based on Saylor, resolving regulatory points and normalizing accounting practices may finally result in extra firms contemplating Bitcoin as an essential asset allocation.
As for the dearth of regulatory readability within the cryptocurrency trade, Michael Saylor believes that many within the trade see this as intentional relatively than unintentional. For instance, main cryptocurrency firm Coinbase has threatened to go away the US with out clearer laws and is suing the SEC over an absence of transparency.
Considered one of Saylor’s standout factors was that he known as himself a Bitcoin realist. Lastly, Saylor strongly believes that the combination of Bitcoin into conventional establishments appears inevitable on account of a number of financial, bodily and political components.
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