• Michael Saylor, Executive Chairman of MicroStrategy, believes that the SEC’s pressure on crypto could increase Bitcoin’s dominance to 80%.
• He predicts that most altcoins will be deemed securities by the SEC and exchanges will delist them.
• BTC will remain as a commodity and its market share dominance could spike to 80%, according to Saylor.
Michael Saylor Predicts SEC Crackdown Will Boost Bitcoin
Michael Saylor – Executive Chairman of MicroStrategy – believes the regulatory pressure coming from the US SEC could be a bullish factor for bitcoin’s price and increase its dominance above the other digital assets. The American predicted that many altcoins will be deemed securities and exchanges will delist them. BTC will be among the few to be spared, whereas its market share dominance could spike to 80%, Saylor added.
SEC War Could Lead To Bitcoin’s Price Increase
One of the keenest supporters of the primary cryptocurrency – Michael Saylor – thinks the lawsuits which the US SEC filed against Binance and Coinbase could have a positive effect on bitcoin’s preeminence and price. In a recent interview for Bloomberg, he said he expects investors to increase their interest in bitcoin should the regulator continues its crackdown on other digital currencies. According to him, most cryptocurrencies would be declared as securities while BTC can remain as a commodity. “The entire industry is kind of destined to be rationalized down to bitcoin and a half a dozen to a dozen other proof-of-work tokens,” Saylor added.
Altcoins Will Be Delisted From Exchanges
As a result, only few digital assets like bitcoin can stay with their current status while others would face delisting from exchanges due to lack of compliance with regulations. This approach would lead not only increased investor interest but also higher prices for bitcoin as it can become more attractive for traders when compared with other cryptos. On top of this, its market share dominance may reach up to 80% according to Michael Saylor who is optimistic about future prospects for BTC despite all challenges it is facing right now.
Bitcoin Is ‚Destined‘ To Succeed
Saylor emphasized that despite all issues related to scalability, privacy or energy consumption; he sees great opportunities in BTC which is destined for success in long-term perspective irrespective if whether there are government interventions or not into cryptocurrency space. In addition, his company has already invested over $1 billion in buying bitcoins recently in order show his support for leading digital asset even more clearly by putting money where his mouth is as an advocate or crypto investments especially in terms of institutions entering this space increasingly often nowadays.
In conclusion, Michael Saylor thinks that if regulatory pressure continues from US SEC then it could positively affect Bitcoin’s price & its dominance above other cryptocurrencies which would lead many altcoins get delisted from exchanges due their „security“ status – leaving only 12 proof-of-work tokens on those platforms & increasing investor interest towards Bitcoin with potentially high returns on investment in long term perspective due rising demand & limited supply dynamics behind it’s success story .