Bitcoin News and Finance
Microstrategy CEO on Mainstream Bitcoin Adoption: ‘I See Evidence of a Lot More Institutional Adoption’ Skip to main content

Microstrategy CEO on Mainstream Bitcoin Adoption: ‘I See Evidence of a Lot More Institutional Adoption’

Microstrategy CEO on Mainstream Bitcoin Adoption: 'I See Evidence of a Lot More Institutional Adoption'

The Nasdaq-listed company Microstrategy sees “evidence of a lot more institutional adoption” of bitcoin. The firm cited various reasons including “The circumstances and the currency volatility” in Turkey, South America, and Africa — “all of these things have elevated institutional awareness of bitcoin.”

Microstrategy Outlines Future Outlook for Bitcoin

The Nasdaq-listed software company Microstrategy discussed the future outlook for bitcoin during the company’s Q1 earnings call Wednesday.

“With regard to the outlook for bitcoin, I think that in the past 12 months, the asset class has evolved and matured,” Microstrategy CEO Michael Saylor explained, elaborating:

I see evidence of a lot more institutional adoption, greater adoption amongst macro and other hedge funds.

“We’ve made great progress with corporations,” he continued. “There will be 24 publicly traded bitcoin miners by the end of the quarter, so lots of publicly traded companies in the Bitcoin space.”

Saylor also predicted that there will be “more and more publicly traded companies holding bitcoin on their balance sheets, more and more public investors with bitcoin exposure, more banks rolling out bitcoin acquisition and trading and custody services, more regulatory awareness and more clarity as to how the entire crypto industry is going to evolve.”

The pro-bitcoin executive proceeded to outline many developments that have raised bitcoin awareness. “Many of the macroeconomic developments have elevated the stature and the awareness of businesses and investors in the rest of the world to bitcoin,” Saylor said, noting:

The circumstances and the currency volatility in Turkey, the currency volatility in South America, the currency volatility in Africa, all of these things have elevated institutional awareness of bitcoin.

In addition, “the capital market volatility, the volatility of equities, the S&P index, the volatility of Nasdaq, of big tech stocks, all of these things have elevated mainstream investors’ awareness to bitcoin,” Saylor described.

The Microstrategy CEO further detailed: “There’s a growing sentiment that we see across the mainstream that Bitcoin is here to stay. The crypto economy represents a great opportunity for the entire world. And politicians and investors and corporations are working diligently to come to terms on what this means and how they should adjust their practices.” Saylor concluded:

We look forward to the next wave of institutional adoption that, I think, should be driven as people get more educated and more aware of what digital property is.

This week, Microstrategy bought 660 more bitcoins, raising the company’s crypto holdings to about 125,051 BTC.

Do you agree with Michael Saylor about the future outlook for bitcoin? Let us know in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory