Regulatory actions in the United States could steer the crypto industry towards a Bitcoin-focused landscape, potentially driving its price to exceed $250,000, according to MicroStrategy co-founder Michael Saylor.
In a Bloomberg interview, Saylor highlighted recent enforcement actions by the Securities and Exchange Commission (SEC) and emphasized that the agency views Bitcoin favorably as it is excluded from being classified as a security.
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Saylor believes that the industry will gradually rationalize down to a Bitcoin-centric market, with a limited number of proof-of-work tokens alongside it. He predicted that Bitcoin’s market share, which has already risen from 40% to 48% in 2023, could reach 80% as institutional money flows into the sector.
While Saylor’s perspective has drawn criticism from some, who argue for a multichain future and the importance of different blockchains, he remains bullish on Bitcoin’s potential for significant growth.
As the industry faces ongoing regulatory developments, Saylor envisions a positive trajectory for Bitcoin, anticipating further price surges and institutional adoption once uncertainties subside.
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