Microstrategy’s Michael Saylor predicted an enormous shakeout within the cryptocurrency market as a result of acceleration of regulation, which he mentioned could be good for the Bitcoin community. It could be actually finest for Bitcoin if digital currencies, digital securities and digital properties are clearly outlined with vivid traces.
“Regulation would eliminate confusion as Bitcoin is currently being undermined by the guilt of association with all the other tokens.”
Regulation To Benefit Bitcoin
He puzzled how most of the 19,000 current crypto safety tokens would survive in case of such a shakeout. In the wake of $UST’s decline in the previous few days, Saylor mentioned the final 72 hours noticed a political consensus to maneuver ahead with clear regulation, which goes to be good.
“It is going to move the asset class from being a $1 trillion asset class to a $10 trillion. If there is a law, there could be an avalanche of institutional capital flow into stable coins and Bitcoin, and it will probably be a big shakeout. There is a wall of money that can’t come into the asset until everything is clarified.”
Referring to $UST’s fiasco, the Microstrategy CEO mentioned the whole episode would hopefully educate a complete era of crypto folks into the deserves of a very decentralised crypto asset community, and the distinction between crypto property and a crypto safety.
Accelerated Crypto Regulation
Saylor predicted that the meltdown of LUNA and TERRA would create a political consensus that the group wants to maneuver ahead quicker.
“A lack of regulation in the crypto industry is hurting Bitcoin more than it is helping it. The lack of regulation has been helping stable coins and cryptosecurities and in fact, all the competitors to Bitcoin and the space.”
Saylor therefore felt regulation goes to be good for Bitcoin. The very first thing to be regulated is stablecoins as there’s a huge demand for secure cash globally, he defined.
He predicted that by 2024, the Bitcoin ecosystem may rotate from being entrepreneurial to institutional, with about 90% of regulatory readability. “This decade is the decade of digital transformation of property, money and energy and between 2030 and 2040, it will be a hyper growth industry.”
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