Michael Saylor and a new prediction about Bitcoin

Michael Saylor Bitcoin


IMPORTANT POINTS:

  • Michael Saylor believes that Bitcoin’s dominance will extend over the next few years, reaching 80% in the long term.
  • According to data from CryptoSlate, Bitcoin currently has 48% of the crypto market dominance.
  • Regulatory pursuit of cryptocurrencies will only make Bitcoin gain more dominance, the CEO of MicroStrategy opined.

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Michael Saylor, a renowned Bitcoin bull, has set a new prediction about the world’s most popular cryptocurrency. The tycoon said that BTC will reach 80% dominance of the crypto market in the long term.

According to data from CryptoSlate, Bitcoin currently has 48% dominance of the crypto market, which is worth over $1 trillion.

“MicroStrategy’s view since 2020 has been that the only institutional-grade investable asset in the crypto space is Bitcoin, which is the universally recognized global digital commodity in this industry.”Saylor.

Michael Saylor took aim at regulators

One of the points that the CEO of MicroStrategy made is the role that regulators are playing. It should be remembered that, during the past week, the SEC initiated two lawsuits against the main exchanges in the United States: Binance and Coinbase.

This pressure from regulators will only benefit Bitcoin, according to Saylor: “The entire industry is bound to be streamlined into a Bitcoin-centric industry with half a dozen or a dozen other proof-of-work tokens.”

The businessman also clarified that at the moment the crypto industry has more than 25,000 tokens and that the regulators will cause many to disappear. “Bitcoin is the best”, he stressed.

For this reason, Saylor affirmed that “it is logical that Bitcoin multiplies by 10 from here and then by 10 again”.

At the time of writing this article, Bitcoin was down 0.2% in the last 24 hours and is now in line with USD 26,000.