Michael Saylor could be very bullish on Bitcoin however skeptical of all different cryptocurrencies

• Michael Saylor reiterates his dire opinion about Bitcoin.
• MicroStrategy Inc at present has about 140,000 BTC.
• Bitcoin has misplaced practically 10% since its April excessive.

Bitcoin has misplaced practically 10% in latest weeks, however the pullback is simply a possibility for Michael Saylor, chairman of MicroStrategy Inc.

Saylor is skeptical of different cryptocurrencies

Curiously, his bullish view on bitcoin comes solely as he stays “skeptical” about different cryptocurrencies amid regulatory uncertainty. Talking to CNBC right this moment, Saylor mentioned:

I believe bitcoin has bottomed, leverage is out, we’re working. BTC is a commodity that won’t be regulated by the SEC. I believe the trail for bitcoin to rally from right here is obvious.

Earlier this month, the US Federal Reserve introduced a “pause” that might be a tailwind for BTC’s motion, as easing financial coverage is thought to make buyers take riskier bets.

MicroStrategy Inc at present has about 140,000 bitcoins with a complete worth of roughly $4.17 billion.

Why else does he worth bitcoin?

Saylor is assured that the latest banking collapse and regulatory uncertainty surrounding cryptocurrencies will profit bitcoin, given its repute as a secure haven.

Bitcoin is probably the most safe community, probably the most safe asset. You will notice a constant stream of capital from the remainder of the cryptocurrency ecosystem into bitcoin.

Different causes cited for BTC being closely out of favor are the “lightning community,” a protocol constructed over bitcoin that he believes might be a disruptive cost community.

Additionally on Friday, Anthony Pompliano additionally mentioned that bitcoin is just like the world’s largest insurance coverage firm.