Crypto Industry Will Be BTC Focused After SEC Actions, MSTR Founder Michael Saylor Says

Business-intelligence firm MicroStrategy’s (MSTR) Founder and Executive Chairman Michael Saylor has said recent enforcement actions by U.S. regulators have made it clear that the crypto industry is destined to be rationalized down to a bitcoin (BTC)-focused industry.

“MicroStrategy’s views since 2020 have been that the only institutional grade asset is bitcoin,” said Saylor in an interview with Bloomberg on Tuesday. “It’s pretty clear that the regulators don’t see a legitimate path forward for cryptocurrencies … And so the entire industry is kind of destined to be rationalized down to a bitcoin-focused industry with maybe half a dozen to a dozen other proof of work tokens.”

Source: Crypto Industry Will Be BTC Focused After SEC Actions, MSTR Founder Michael Saylor Says