Bitcoin continues to dominate other digital currencies. And this hegemony of the flagship cryptocurrency could soon increase, according to Michael Saylor. Based on the current context marked by the controversial measures of the Securities and Exchange Commission, the expert affirms that we are probably tending towards a crypto industry centered on bitcoin (BTC).
Towards a bitcoin (BTC) driven industry
In decline for several months, the queen of cryptocurrencies is struggling to climb the slope and reach higher peaks. This may lead to believe that the dominance of bitcoin (BTC) is decreasing. However, the flagship crypto still has many arguments, including its market capitalization which eclipses all its competitors. According to many analysts, this domination is not likely to end anytime soon.
Michael Saylor also thinks that we are heading towards a cryptocurrency industry focused on bitcoin (BTC). The co-founder of the company MicroStrategy assures in an interview with Bloomberg June 13 that the recent measures taken by the SEC to clean up the sector will benefit bitcoin (BTC). He also states that US regulators “have no love” for stablecoins, tokens and all other digital assets.
The entrepreneur recalls that bitcoin (BTC) is the only cryptocurrency that Gary Gensler, the chairman of the SEC, does not consider a security. He also states that crypto exchanges will be the catalysts for the rise in the price of bitcoin (BTC).
” The point of view [de la SEC, Ndlr] is that crypto exchanges should trade and hold pure digital assets like bitcoin (BTC) and so the whole industry is kind of destined to be streamlined to a bitcoin (BTC) focused industry with can -to be half a dozen other Proof-of-Work assets,” he confided.
An analysis far from unanimous
Unlike Michael Saylor, economist Lyn Alden does not foresee such a bright future for the queen of cryptocurrencies. The latter had declared last January that a considerable danger “is imminent for the bitcoin (BTC).
For her, the US Treasury and the Fed will withdraw significant liquidity from the market when the United States has solved its debt problem. A situation that could create a “vulnerable period” for bitcoin (BTC) and many other assets.
The team behind the Metamask wallet also believe that a crypto industry focused on bitcoin (BTC) is not an option. She points out the diversity of blockchains and their purposes, and instead predicts a “multichain future.”
For now, bitcoin (BTC) remains the flagship cryptocurrency and its proponents are emphatically announcing a surge in its price. The Winklevoss brothers predicted a rise to $500,000 for the digital currency on Tuesday. Before them, Arthur Hayes, co-founder and former CEO of BitMex announced last May, a value of one million dollars for crypto by 2030.
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