{"id":606832,"date":"2024-05-07T08:00:44","date_gmt":"2024-05-07T08:00:44","guid":{"rendered":"https:\/\/ktsl888.com\/?p=606832"},"modified":"2024-06-11T06:58:58","modified_gmt":"2024-06-11T06:58:58","slug":"the-next-big-catalyst-for-bitcoin-what-michael-saylor-predicts","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/the-next-big-catalyst-for-bitcoin-what-michael-saylor-predicts\/","title":{"rendered":"The Next Big Catalyst For Bitcoin? What Michael Saylor Predicts"},"content":{"rendered":"

In an interview with journalist Natalie Brunell, Michael Saylor, executive chairman and co-founder of MicroStrategy, laid out his vision for what could next propel the price of Bitcoin. His insights come at a time when the digital currency landscape is experiencing pivotal regulatory and institutional developments.<\/p>\n

The Next Big Catalyst For Bitcoin Price<\/h2>\n

Saylor pinpointed the specific moment he believes heralded the onset of a new era for Bitcoin. “January of 2024 marked the beginning of the period of corporate adoption of Bitcoin,” he stated. The significance of this shift, according to Saylor, is tied closely to regulatory approvals and the distinctive path Bitcoin is carving for itself amidst a sea of digital assets.<\/p>\n

The crux of Saylor’s argument is the US Securities and Exchange Commission’s (SEC) decision-making process regarding cryptocurrency spot Exchange-Traded Funds (ETFs). He described the SEC\u2019s approval of Bitcoin spot ETFs<\/a> as the “first big catalyst.” This regulatory nod not only legitimizes Bitcoin in the eyes of institutional investors but also enhances its appeal as a viable corporate treasury asset.<\/p>\n

Related Reading: Bitcoin Relative Open Interest Lowest Since Feb, Analyst Says \u201cHard To Be Bearish\u201d<\/a><\/div>\n

Now, Saylor argues that the next decisive moment will hinge on the SEC’s handling of other cryptocurrencies. “The second big catalyst will be the SEC’s denial of every other crypto application for spot ETFs,” Saylor explained. By denying these applications, the SEC would effectively position Bitcoin as the premier, unreplicated choice among cryptocurrencies, an outcome Saylor sees as critical for dispelling doubts about Bitcoin\u2019s long-term viability and uniqueness.<\/p>\n

\u201cAnd when we actually see the regulators deny the applications of the copies of other crypto assets, then we will have checked the box. It won’t be banned, it won’t be copied,\u201d Saylor remarked.<\/p>\n

Expanding on the implications of such regulatory decisions, Saylor employed a metaphor involving the choice of materials in large-scale engineering projects. He compared the decision-making process in corporate investment in Bitcoin to choosing between steel or bronze for constructing a skyscraper.<\/p>\n

Related Reading: Here\u2019s When Bitcoin Could Peak In This Accelerated Bull Run: Analyst<\/a><\/div>\n

“Once you realize there’s just steel and there is no second best metal for structural civil engineering, the project moves forward,” he noted. In this analogy, Bitcoin is likened to steel \u2014 the foundational material without substitute \u2014 clearing any hesitation about its adoption in corporate portfolios.<\/p>\n

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Should we be watching for another catalyst that will spur more #Bitcoin<\/a> adoption?<\/p>\n

"The first big catalyst was the SEC's approval of spot #ETFs<\/a> for Bitcoin…the second big catalyst is going to be the SEC's denial of every other #crypto<\/a> application for a spot ETF…" –@saylor<\/a>\u2026 pic.twitter.com\/4aKarg6eAS<\/a><\/p>\n

— Natalie Brunell \u26a1\ufe0f (@natbrunell) May 6, 2024<\/a><\/p><\/blockquote>\n