Michael Saylor is bullish on Bitcoin but sceptic on all other crypto

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  • Michael Saylor reiterates his bullish outlook on bitcoin.
  • MicroStrategy Inc currently holds approximately 140,000 BTC.
  • Bitcoin is down about 10% from its April high.

Bitcoin There has been a loss of about 10% in recent weeks, but as far as Michael Saylor, president of MicroStrategy Inc, is concerned, the pullback is just an opportunity to build a position.

Saylor casts doubt on other cryptocurrencies

Interestingly, his bullish outlook is specific to bitcoin, while he remains “skeptical” about other cryptocurrencies amid regulatory uncertainty. speaking with cnbc Today, Saylor said:

I think bitcoin has found bottom, leverage is out of it, we are on a bull run. BTC is a commodity that the SEC will not regulate. I think the way forward for bitcoin is clear to rally from here.

Earlier this month, the US Federal Reserve “hinted”Stop“Which could be a tailwind for BTC going forward as easing monetary policy has been known to make investors take riskier bets.

MicroStrategy Inc currently has approximately 140,000 bitcoins purchased at a total cost of approximately $4.17 billion.

Why else is he bullish on bitcoin?

Saylor is convinced that recent bank failures And the regulatory uncertainty surrounding cryptocurrencies will work in bitcoin’s favor, given its reputation as a safe haven.

Bitcoin is the most secure network, the most secure asset. You will see capital flowing into bitcoin from the rest of the crypto ecosystem.

Other reasons cited to look bullish on BTC include”lightning network– a protocol layered over bitcoin that he is convinced has the potential to be a disruptive payments network.

plus Anthony Pompliano on Friday Said That bitcoin was like the biggest insurance company in the world.

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