Michael Saylor is bullish on Bitcoin but sceptic on all other crypto

  • Michael Thaler reiterates his bullish view on Bitcoin.
  • MicroStrategy Inc currently holds approximately 140,000 BTC.
  • Bitcoin has fallen nearly 10% from its April highs.

Bitcoin has fallen nearly 10% in recent weeks, but as far as MicroStrategy Inc Chairman Michael Thaler is concerned, the drop is just an opportunity to build ground.

Thaler Skeptical of Other Cryptocurrencies

Interestingly, while remaining “skeptical” about other cryptocurrencies amid regulatory uncertainty, his bullishness is specific to Bitcoin.talk to CNBC Thaler said today.

I think Bitcoin has found a bottom, is de-leveraged, and is entering a bull market. BTC is the only product not regulated by the SEC. I think the path for Bitcoin to rise from here is clear.

Earlier this month, the U.S. Federal Reserve announced that “pauseThis could prove to be a tailwind for BTC going forward, as looser monetary policy is known to make investors take riskier bets.

MicroStrategy Inc has currently purchased approximately 140,000 bitcoins at a total cost of approximately $4.17 billion.

Why else is he staying bullish on Bitcoin?

Thaler believes: recent bank failure And given its reputation as a safe haven, the regulatory uncertainty surrounding cryptocurrencies will likely favor Bitcoin.

Bitcoin is the safest network and the safest asset. We see a consistent flow of capital into Bitcoin from the rest of the cryptocurrency ecosystem.

Other reasons cited for our bullish view on BTC include:Lightning network– He believes that this protocol layered on top of Bitcoin has the potential to become a disruptive payment network.

On Friday, Anthony Pompliano also Said Bitcoin was like the world’s largest insurance company.

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