The head of MicroStrategy said that the regulation will benefit BTC
According to the director of MicroStrategy, Michael Saylor, adjustments made to the field of cryptocurrencies by regulators and the bitcoin halving process will cut off competitors, writes Business Insider.
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Saylor sees the beginning of a new “bullish” cycle in the current BTC rally.
The co-founder of the software development company believes that halving — that is, the halving of the number of bitcoins, the wider introduction of this crypto-asset and regulatory intervention in this industry will positively affect BTC.
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At the same time, he pointed to the increased interest of investors and developers moving to bitcoin from other tokens, as its competitors themselves fall away after more persistent regulation of the industry, especially after the head of the US Securities and Exchange Commission (SEC) Gary Gensler said , that “everything except bitcoin” is subject to securities laws.
Read: The EU has approved the world’s first cryptocurrency regulations
“Crypto-tokens and crypto-securities will be regulated, and possibly even cease to exist. Bitcoin is the only commodity that the SEC is not going to regulate. Bitcoin is the most secure network and the most secure asset.”
It is not surprising that there will soon be a steady outflow of capital from the rest of the crypto space to Bitcoin, as Saylor said.
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Source: Ministry of Finance