Ledger and Cobie hosted Michael Saylor on their podcast UpOnly TV to discuss inflation, why BTC is an “easy” trade, and regulatory uncertainty.
Bullish on BTC as Property
Michael Saylor, CEO of MicroStrategy, came on UpOnlyTV with a massive bull case for BTC, discussing with hosts Ledger and Cobie.
Saylor opened the stream touching on the fact that there are not many safe havens to store capital considering the USD inflation. He circled back touching on his issues with banking in emerging markets and the idea of sovereign wealth funds adopting Bitcoin.
cdn.embedly.com/widgets/media.html?type=text%2Fhtml&key=96f1f04c5f4143bcb0f2e68c87d65feb&schema=twitter&url=https%3A//twitter.com/web3wires/status/1486439748587569152&image=https%3A//abs.twimg.com/errors/logo46x38.pngLedger and Cobie guided the conversation when possible, ultimately allowing Saylor to outline why BTC as a property is bullish. Saylor defined a trend of extremely wealthy people, funds, and nations purchasing Bitcoin.
Regulation for Unregistered Securities
Part of the bull case for Saylor was the fact that Bitcoin checks off more boxes as property than a security.
He argues that most dApps un-officially fall under securities according to the Howe Test. Due to this regulatory grey are Saylor finds himself most comfortable holding BTC. He didn’t spend much time on dApps and tokens and definitely acknowledged their innovation.
Saylors worries are in regulation as Web3 crosses the chasm. He threw out a few different scenarios, the best being global adoption of Web3 and crypto in the US and UK. Overall Saylor remains extremely bullish on BTC but recognizes what else is brewing in the market.
Saylor’s Bullish BTC Case Foreshadows Adoption
After MicroStragy’s success, Saylor is confident that one of the easiest ways for people, nations, and companies to make money is BTC. He mentioned that it’s as simple as an influential individual buying BTC and sending it out on a news wire.
From there he thinks it will just cause a chain reaction. As for our concern for L1 networks, this is probably bullish. Regulation takes time and BTC rising will lift all boats. Sam Bankman Fried echoed this in an FTX Twitter space as well.
Source : bsc.news
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