Bobos & Wojaks

Get rich or die tryin

‘I See Evidence Of A Lot More Institutional Adoption,’ Says Microstrategy CEO, Regarding Mainstream Bitcoin Adoption

Microstrategy, a Nasdaq-listed business, finds “signs of a lot more institutional acceptance” of bitcoin. The firm highlighted a variety of factors, including “the situations and currency volatility” in Turkey, South America, and Africa, claiming that “all of these things have boosted institutional knowledge of bitcoin.”

During the business’s Q1 earnings call on Wednesday, Microstrategy, a Nasdaq-listed software company, highlighted the future prospects for bitcoin.

“With regard to the outlook for bitcoin, I think that in the past 12 months, the asset class has evolved and matured,” Michael Saylor, CEO of Microstrategy, explained:

“I see evidence of a lot more institutional adoption, greater adoption amongst macro and other hedge funds.”

“We’ve made great progress with corporations,” he continued. “There will be 24 publicly traded bitcoin miners by the end of the quarter, so lots of publicly-traded companies in the Bitcoin space.”

microstratergy-bitcoin-crypto-blockchain

Saylor also predicted that “more and more publicly-traded companies will hold bitcoin on their balance sheets, more and more public investors will have bitcoin exposure, more banks will roll out bitcoin acquisition, trading, and custody services, more regulatory awareness, and more clarity about how the entire crypto industry will evolve.”

The pro-bitcoin executive proceeded to outline many developments that have raised bitcoin awareness. “Many of the macroeconomic developments have elevated the stature and the awareness of businesses and investors in the rest of the world to bitcoin,” Saylor said, noting:

“The circumstances and the currency volatility in Turkey, the currency volatility in South America, the currency volatility in Africa, all of these things have elevated institutional awareness of bitcoin.”

Additionally, “the capital market volatility, the volatility of equities, the S&P index, the volatility of Nasdaq, of big tech stocks, all of these things have elevated mainstream investors’ awareness to bitcoin,” Saylor described.

The CEO of Microstrategy went on to say more: “There’s a growing sentiment that we see across the mainstream that Bitcoin is here to stay. The crypto economy represents a great opportunity for the entire world. And politicians and investors and corporations are working diligently to come to terms on what this means and how they should adjust their practices.” Saylor concluded:

“We look forward to the next wave of institutional adoption that, I think, should be driven as people get more educated and more aware of what digital property is.”

This week, Microstrategy purchased 660 additional bitcoins, bringing the company’s total crypto holdings to approximately 125,051 BTC.