Michael Saylor is a big time known Bitcoin maximalist who doesn’t care about any cryptocurrency but Bitcoin. You can obviously see that, since he has successfully used his company to acquire lots of it. Bitcoin is the first cryptocurrency and one of the most decentralized cryptocurrency out there, but that doesn’t mean that Bitcoin is the ultimate and the rest are trash.
Michael Saylor is suggesting that the government regulates crypto as he believes that most of them are spoiling the Bitcoin’s reputation which is not helping in the wider Bitcoin adoption. He is indirectly calling other crypto projects inferior and bad eggs. In a way he is right, because lots of crypto shitcoins get created daily, and because they get created for the sole purpose of pump and dump, they are truly not helping in preserving the intention Bitcoin got created for. But I guess he came up with this idea now Bitcoin is dumping, is he saying this to help prevent Bitcoin from tanking more since he is down over $1 Billion in his Bitcoin investment.
The rate at which the crypto market price has been dropping lately, it’s pretty easy for a newbie to tag it a scam, this is because of how volatile the market is. Although we both know that lots of shitty projects are present in this crypto space, lots of shitty projects have gone because they couldn’t withstand the great bear market pressure. But that’s the result you get on a project that has no utility. This is one of the reasons why crypto awareness and lessons need to be taught. People need to learn that before they start investing their hard earned money in crypto, they need to learn and make sure they are ready to earn. This will help them differentiate the crypto projects that are here for the long term and the short term ones.
Michael Saylor’s investment is down, he is probably pissed as bitcoin has great utilities to keep it pumping, Bitcoin has almost 50% dominance in the total crypto market. Asking the government to regulate the crypto market is doing completely opposite of Satoshi reason of creating Bitcoin. Bitcoin was a base technology that helped the birth of other cryptocurrency technology that has changed the way people see the financial technology.
When the market was going bullish and he was in profit he didn’t mention the idea regulations. It’s tanking and affecting his wallet and he is thinking of regulation, where is the decentralization then? If the government gets the power to dictate which crypto gets to exist.
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