bitcoin soldier – While the SEC continues its multiple attacks against the crypto ecosystem, the fervent defender of Bitcoin, Michael Saylor sees this as an opportunity for the queen of cryptocurrencies to show her resilience. Better, the founder of MicroStrategy thinks that the strict regulatory measures related to crypto will work in favor of BTC. Explanations.
Bitcoin spared by the SEC
It is therefore in an interview for our colleagues from Bloomberg yesterday that the BTC whale expressed himself. And, faced with the debate over the classification of cryptocurrencies as security or conveniencethe Bitcoin exception works in its favor.
Indeed, this crucial distinction, which determines the legal rules that will legislate the asset, spares the queen of cryptocurrencies, because the main utility of bitcoin is to store value and carry out peer-to-peer transactions. Decentralized and transparent bitcoin network is not issued by a central entity, which distinguishes it from securities, that is to say traditional financial securities.
“Regulatory clarity will drive adoption of #Bitcoin by eliminating the confusion and anxiety that has held back institutional investors. Bitcoin’s dominance will continue to grow as the #Crypto industry rationalizes around $BTC and becomes mainstream. »
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SEC ‘has no love’ for cryptocurrencies and stablecoins
Faced with this dislike for exchanges, cryptocurrencies and stablecoinsSaylor notes that Bitcoin’s market share increased by 40% to 48% in 2023, a pullback to Bitcoin that makes sense for the bull. Faced with attacks from the SEC, cryptocurrency holders would therefore have preferred to fall back on Bitcoin and on decentralization.
This phenomenon was exacerbated recently by the attack of the American financial policeman against Binance. The SEC complaint develops that a sixty cryptocurrencies are securities including ADA, MATIC and SAND for example. In this situation, many exchanges have already opted for fallback solutions. We can think of Coinbase, eToro or even Robinhood.
As cryptocurrency prices were crying tears of blood just this weekend, many experts are announcing that Bitcoin will be the fallback solution to this situation. Some even see a opportunity for BTC to see its value explode. Evidenced by this recent premonition of the Winklevoss brothers, who see the queen of cryptocurrencies reaching the $500,000 in 10 years.
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