Co-Founder and Chief Executive Officer (CEO) of MicroStrategy Michael Saylors According to tightened regulations for cryptocurrency, investment in Bitcoin will increase sharply.
In a newer interview With Salt Talks, Saylor responded to comments made by Janet Yellen, President Joe Biden’s Treasury candidate, who expressed concern about the illegal use of cryptocurrency.
Saylor called the intensified review bullish on crypto assets and said new rules would accelerate Bitcoin investment.
He said, “To the extent that we have regulated companies trading Bitcoin, I believe that will only accelerate the rush of institutional funds to Bitcoin.”
MicroStrategy CEO said most investors have already bought Bitcoin through regulated exchanges that are required to comply with strict Anti-Money Laundering (AML) and Know Your Customer (KYC) laws.
Saylor cited increased regulation as an indication of the general appeal of Bitcoin as governments are now forced to keep up with investor demand. He said government pressure would prove beneficial to Bitcoin.
He went on “I don’t think it’s earth shattering. I don’t think this will be negative for the industry. I think it’s the opposite […] I don’t think Bitcoin doesn’t have to be regulated to be successful. I think Bitcoin just has to be better than gold to be successful. “