MicroStrategy CEO says regulatory uncertainty on Stablecoins is playing a negative role in space

The CEO of Microstrategy firm shared his point of view that why the crypto market is facing a huge correction in the beginning of this year. 

MicroStrategy is a business intelligence firm. Its CEO Michael Saylor is bullish on Bitcoin and also his company is continuously adding Bitcoin to the company balance sheet. Michael personally advises people/companies to go with Bitcoin investment. He believes that Bitcoin is the only hope. 

Micheal Saylor appeared in an interview with Bloomberg Technology. Through the interview, he shared two main important facts that are ruining the growth of the crypto market at the beginning of this year. 

Michael said that the first thing that is working as a negative point in this crypto industry is uncertainty on the regulation system on the stablecoins. And these things are acting as a catalyst to down the confidence of the industry’ investors.

“regulatory uncertainty, especially regulatory uncertainty around stable coins”

The second thing that Michael believes is a negative factor that is boosting this bearish momentum of the crypto industry is the category of digital assets as security or not. 

“crypto tokens and whether or not they’re securities. And that creates a little bit of anxiety.”

On Bitcoin accumulation, Michael said that it is a good entry point for the financial institutions to get started with the Bitcoin accumulation. 

“I feel like it’s consolidating at this level. This is a great entry point for institutional investors.”

Michael also noted that currently, Bitcoin is available at 40% off over its all-time high. And it is a perfect time to buy Bitcoin from the senators and congressmen in investors and public companies. 

Right now Microstrategy firm is holding 124,391 Bitcoins. Even Bitcoin faced huge corrections but still, the firm is in profit. And Micheal said that he will never sell Bitcoin and also he will never deviate from his pledge to make Microstrategy a multi-billion Bitcoin holding company. 

Read also: Ripple Boss urges people to stay away from XRP Ponzi schemes