Microstrategy CEO on Bitcoin mainstream adoption: “I see evidence of more...
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Nasdaq-listed Microstrategy sees “evidence of further institutional adoption” of Bitcoin. The company cited various reasons including “conditions and currency fluctuations” in Türkiye, South America and Africa – “all of which have led to increased institutional awareness of Bitcoin.” Microstrategy Sums Up Future Prospects for Bitcoin Nasdaq-listed software company Microstrategy discussed the future outlook for Bitcoin during the company's first-quarter earnings call on Wednesday. “In terms of the outlook for Bitcoin I think that in the last 12 months, the asset class has evolved and matured,” explained Michael Saylor, CEO of Microstrategy. “I see evidence of more institutional adoption, greater adoption among bitch hedge funds and others,” he explained. “We have made great progress with companies,” he continued.
“There will be 24 publicly traded bitcoin miners by the end of the quarter, so there are a lot of publicly traded companies in the bitcoin space.” Saylor also predicted that there will be “more and more publicly traded companies holding bitcoin on their balance sheets, more and more public investors getting exposure to bitcoin, more banks rolling out bitcoin acquisition, trading and deposit services, more regulatory awareness and more clarity about how the entire crypto industry will evolve.” The pro-Bitcoin executive proceeded to outline several developments that have led to increased awareness of Bitcoin. “Several macroeconomic developments have raised the profile and awareness of bitcoin among companies and investors in the rest of the world,” Saylor said, noting
“The conditions and currency volatility in Türkiye, currency volatility in South America, currency volatility in Africa, all of these things have raised institutional awareness of Bitcoin.” Additionally, “capital market volatility, stock volatility, S&P, NASDAQ volatility, big tech stocks, all of these things have raised mainstream investor awareness of Bitcoin,” Saylor said. Microstrategy's CEO provided more details: "There's a growing feeling we're seeing across the mainstream that Bitcoin is here to stay. The cryptocurrency economy represents a great opportunity for the entire world."
“Politicians, investors and companies are working hard to come to an understanding about what that means and how they should adjust their practices.” “We are looking at the next wave of institutional adoption which I think should be driven by people becoming more educated and more aware of what digital ownership is,” Saylor concluded. This week, Microstrategy purchased another 660 BTC, bringing the company's cryptocurrency holdings to about 125,051 BTC. Source
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