© Reuters
By Carjuan Cruz
Investing.com – MicroStrategy CEO Michael Saylor noted that the recent mandate issued by the U.S. government last month over the cryptocurrency sector gives the “green light” for cryptocurrency development in that country.
“What we got with the executive order was the President of the United States giving bitcoin the green light,” Saylor noted during “The Future is Bright” talk he gave at the occasion of the Bitcoin 2022 event held in Miami from April 6 to 9.
“When was the last time the President of the United States ordered the government to embrace a new asset class? Never in the last 100 years of history,” the entrepreneur said.
“Bitcoin is taking a victory lap. A year ago the government might have been going to ban it, but today it has passed. Congress and the Senate are enthusiastically evaluating it,” added the billionaire.
Microstrategy, a company specializing in business intelligence technologies, mobile software and cloud services, holds more bitcoins than any other company in the world, with around 125,051 such coins on its balance sheet.
More institutionalization for bitcoin
According to Saylor, institutionalism in general has also increased, referring to large traditional investment banks and their stance on bitcoin, the major cryptocurrency, and the industry in general.
“Two years ago I went to Merrill Lynch and told them I wanted to buy bitcoin, they laughed at me; they told me they weren’t allowed to talk about it. , otherwise they would be fired. I withdrew 175 million dollars from this bank and I went to another”, says the entrepreneur.
“Now in my inbox is a bitcoin request from Merrill Lynch, sent to me by the same broker,” he added.
All major investment firms are starting to hedge bitcoin, Saylor said. This reinforces his claim that cryptocurrency is becoming more institutionalized in the capital market and in the economy.
The businessman confirmed his position in favor of bitcoin as an even better investment instrument than: “If you want to turn $250 million into $6 billion, buy bitcoin, don’t buy gold” , did he declare.
“So you see, yeah, I’m still bullish about bitcoin,” he said.