Michael Saylor, former CEO of software developer MicroStrategy, has stated in a Bloomberg interview that cryptocurrency has been accumulating almost all of the capital entering the cryptosphere.
This could explain why, since August 2020, when MicroStrategy began to purchase Bitcoin, the company has become one of the largest BTC holders.
Saylor has indicated that he has no intention to sell the asset, even if prices decline.
This week, he has commented on the US Securities and Exchange Commission’s (SEC) lawsuits against Coinbase and Binance, predicting that investors will be more eager to enter BTC due to the fear of increased regulation and many digital currencies being declared securities.
Since January 2023, the Bitcoin dominance index has risen from 34% to 48%, and Saylor believes it could reach 80% in the medium-term.
This suggests that investors gain more trust in the cryptocurrency during market downturns, considering that the BTC price has increased by 58% since January while MicroStrategy’s capitalization has grown by 98% during the same period.
