MicroStrategy CEO Urges Government to Regulate Cryptocurrencies
Cryptocurrencies
Modified Date:- Published Date:-Categories: Cryptocurrency
One of the most well-known institutional bitcoin holders in the market has been MicroStrategy. Despite the volatility in the market, the CEO has called for immediate government action to regulate the cryptocurrency industry. According to the CEO, bitcoin has been targeted by a market that is mostly unregulated, with vulnerabilities in other assets hurting the most popular cryptocurrencies. According to Microstrategy CEO Michael Saylor, there are currently over 19,000 cryptocurrencies and digital tokens in use. These instruments should be considered "unauthorized investments" in comparison to a tangible commodity like bitcoin, which has no issuer, no management, no employees, no product cycle, and only limited supply. Saylor, which previously opposed government crackdown on free markets during the pandemic, is now certain that regulators must act to protect investors from bad players caused by such sentiment. He insisted that without laws, for example, prohibit wash trading – a technique of deliberately raising rates by trading between two wallets controlled by the same entity – even rock-solids such as Apple. Corporations will also see more volatility in their share price.
Bitcoin Holders, Crypto Market, Cryptocurrencies, MicroStrategy CEO, Digital Tokens