Michael Saylor, through his company MicroStrategy, is one of the most famous investors and crypto enthusiasts in the crypto market. Once again, this expert, very focused on bitcoin (BTC), spoke about the future of his favorite crypto in the current context. Here is the substance.
The banking leaders necessary for the crypto maturity of bitcoin
Michael Saylor, Executive Chairman of MicroStrategy, recently expressed his views on various topics related to bitcoin (BTC). Among these, the role that banks could assume in the crypto ecosystem, bitcoin in this case.
In an interview, the manager suggested that the giants of the banking sector would become the new custodians of BTC. A projection which is mainly based on the news surrounding the possible approval of a spot Bitcoin ETF.
Moreover, this option would remain on the table even if a Bitcoin ETF did not see the light of day, contrary to the trends which seem to be emerging. Michael Saylor provided a solution for banking institutions wishing to gain exposure to bitcoin without an officially approved ETF.
For the latter, it consists of investing in MicroStrategy shares. According to him, these have many advantages. Notably, no fees, use of relevant leverage, and the ability to generate tax-deferred bitcoin premium.
Regardless, Michael Saylor believes that bank involvement in the crypto market in general and bitcoin in particular is necessary. Particularly to enable the sector to reach a new level of growth.
A perspective that calls for mature regulation!
If the commitment of the leaders of the banking sector is envisaged, even expected, Michael Saylor does not see it materializing without mature crypto regulation. Which is not the case currently.
“For the industry to move to the next level, we need to move to mature regulation,” Michael Saylor said. He recognizes the need for such development to “that the big banks become the custodians of crypto”.
Unfortunately, the crypto industry has a reputation to take care of. The MicroStrategy boss rightly brought up recent issues involving leading crypto companies and their executives.
He cites in particular the regulatory scrutiny that the crypto exchange Binance has faced recently. This, in a context where the platform is suspected of maintaining close links with terrorist activities.
Another case mentioned by Michael Saylor: that of the trial of Sam Bankman-Fried, the former CEO of FTX. The latest news is that his guilt in this vast crypto scandal has been recognized, exposing him to a sentence of up to 110 years of imprisonment.
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